Nasdaq Dubai, the region’s international financial exchange, has welcomed the listing of three bonds issued by the Dubai branch of the Industrial and Commercial Bank of China, ranked the largest bank in the world by market capitalisation in 2016.
ICBC listed two bonds of $400 million and $300 million respectively, as well as a bond of 500 million euros, Nasdaq Dubai said in a statement.
It said the listings underline the expansion of the bank’s activities across the region as well as the growing financial relationship between Dubai and China. The bank operates across 42 countries and territories.
A total of five ICBC bonds are now listed on the exchange, following the listings of a $500 million bond in May 2015 and a $400 million bond in June 2016.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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