GFH Lists $ 300M Sukuk in NASDAQ Dubai

According to the Emirates News Agency, these instruments witnessed a wide turnout as the size of the subscription exceeded 2.5 times the offered size with a total value of 750 million US dollars .. 53 percent of the issue was allocated to regional investors and 47 percent to international investors and investment fund managers accounted for 61 percent of investors while they were 39% of the financial institutions ’share, and the issuance period is five years.

This listing is an important achievement for the GFH Group as it joins the international capital and bond markets .. The Sukuk issuance aims to support the growth and expansion plans of the current and future activities and projects of the GFH Group based in Bahrain, thereby strengthening its financial position and financing the next stage of its growth path. < / p>

Jassim Al Siddiqui, Chairman of the Board of Directors of GFH Financial Group, said that their inclusion of the Sukuk in a global trading platform with high efficiency and international standards such as NASDAQ Dubai will give the group a global presence among local and international investors, whose positive response to this listing reflects their strong confidence in the group and their knowledge of its future potential..and he looked forward to The next growth stage while continuing to consolidate its position as a leading financial group both domestically and internationally.

For his part, His Excellency Issa Kazim, Governor of the Dubai International Financial Center, Secretary-General of the Dubai Center for Islamic Economic Development and Chairman of the Dubai Financial Market ... stressed that this listing by the GFH Financial Group is one of the most prominent financial institutions in the region that enhances the long-standing and growing relationship between financial markets in every From Bahrain and Dubai.

He said Dubai - one of the biggest destinations for listing sukuk in the world - affirms its commitment to increase cooperation in Islamic finance with various institutions in the GCC countries.

The total value of Sukuk listings in Dubai is currently 65.995 billion USD. The share of UAE issuers of this value is 47 percent, while 53 percent of them belong to different issuers from around the world.

Abdelwahed Al Fahim, Chairman of NASDAQ Dubai, said that, as the global financial exchange in the region, NASDAQ Dubai has the qualifications to provide a high-level platform for listing Sukuk in its local and international market, pointing to their keenness in 2020 to focus on supporting the strong growth in the Sukuk market in Dubai, which has achieved Its highest annual value of $ 14.15 billion in new listings for 2019.

Hamed Ali, CEO of NASDAQ Dubai, said that the inclusion of the GFH Group represents a step forward in the strategy of the NASDAQ Dubai Stock Exchange, which aims to attract sukuk issuers in Islamic capital markets from various sectors and industries locally and globally, confirming their commitment to expand and strengthen their bond relations in the field of sukuk to support and meet the needs Destinations ...