The participants will be attending educational sessions that will be held three days a week
uae2 hours ago
The Abu Dhabi Securities Exchange (ADX) on Sunday announced the listing of Aldar Investments' $500 million sukuk, marking the first corporate sukuk ever to be listed on the exchange.
The sukuk, which was raised at a profit rate of 4.75 per cent with a seven-year tenor, started trading on Sunday under the code 'Aldarsukuk2025'. There was strong investor demand for the issue, reflecting Aldar Investments' status as the region's highest rated non-government related corporate.
Aldar Investments is a fully-owned subsidiary of Aldar Properties, whose shares are also listed on the ADX.
ADX CEO Rashid Al Blooshi, and Aldar CEO Talal Al Dhiyebi rang the bell to mark the dual listing of the sukuk. The sukuk was primarily listed on the Irish Stock Exchange and is now traded on Euronext Dublin, as well as the ADX.
"This dual listing is yet another testament to the ADX's leadership and excellence in the region's securities markets. The ADX has established itself as a preferred destination for listing and trading in the region. The ADX has world-class infrastructure for listing and trading of diversified stocks, and it provides investors with the opportunity to invest their savings in a legal, stable and regulatory environment that adopts the best international practices in disclosure and transparency," Al Blooshi said.
Greg Fewer, CFO of Aldar, said the goal for Aldar Investments is to be the most cost-efficient platform for real estate ownership in the region. The lower cost of capital resulting from the successful sukuk issue is a significant step towards that goal.
In May 2018, the exchange listed sovereign bonds worth $100 million, issued by the Ministry of Finance and the Maldivian Treasury on behalf of the Maldives Government, for the Abu Dhabi Fund for Development. The listing was the first of its kind in the UAE and the region.
- waheedabbas@khaleejtimes.com
The participants will be attending educational sessions that will be held three days a week
uae2 hours ago
This unprecedented move allows guests more time to enjoy the diverse entertainment, cultural experiences, and shopping delights
uae3 hours ago
The emirate is home to scores of family-friendly entertainment parks, and more are in the pipeline
uae3 hours ago
The month's rainfall was recorded at 59.3 millimetres, "excessively above" the normal average of 22.5 millimetres
asia3 hours ago
Here's a guide to the requirements, fees, and certain conditions that must be met
life and living3 hours ago
The Cameroonian is the first ever refugee boxer in the team's short history to have qualified for the Games purely through her ability
sports3 hours ago
With a focus on fostering stronger ties between Japan and the GCC region, JNTO aims to capitalise on the momentum generated by the strong international travel demand from the region
kt network4 hours ago
The plane landed in Frankfurt at around 5.30pm, met by a waiting medical staff
world4 hours ago