Jassim Alseddiqi, chairman of Bahrain-based GFH Financial Group (GFH), on Tuesday rang the market opening bell at Nasdaq Dubai to celebrate the listing of a $300 million sukuk.
GFH said the sukuk is a landmark achievement as it enters the international debt capital markets.
The company added that the capital raised supports the expansion of GFH’s activities, enhancing the financial position and funding its next phase of growth.
The five-year sukuk was oversubscribed 2.5 times with a total book size exceeding $750 million with 53 percent of the issuance allocated to regional investors and 47 percent to international investors.
Alseddiqi said: “Listing our sukuk on a well-regulated and international trading platform like Nasdaq Dubai, will expand GFH’s reach and visibility among the global and regional investor community.
“The overwhelming response received on our sukuk issuance demonstrates the strong confidence investors have in GFH and its future potential. As we embark on the next phase of our growth, we remain committed to further strengthening our position as a leading regional and international financial group.”
Dubai’s sukuk listings by value now total $65.995 billion.
Hamed Ali, chief executive of Nasdaq Dubai, said: “GFH’s listing is an important step forward in Nasdaq Dubai’s successful strategy of attracting high quality Islamic capital markets issuers across a wide range of industry sectors, from the region and internationally. We are further expanding our relationships in the Sukuk asset class to support the needs of issuers, investors and the wider economy.”
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