Sultan Ahmed Bin Sulayem, Chairman of DP World, today rang the market-opening bell to celebrate the listing of a 500 million US Dollar conventional bond by DP World on Nasdaq Dubai.
The listing by the global ports operator underlines Dubai's expansion as an international centre for debt capital markets. The total nominal value of conventional bonds on Dubai's exchanges is now US$11.82 billion.
The bell-ringing ceremony took place in the presence of Essa Kazim, Governor of Dubai International Financial Centre, DIFC, and Chairman of Dubai Financial Market, DFM, Abdul Wahed Al Fahim, Chairman of Nasdaq Dubai, Mohammed Sharaf, Group Chief Executive of DP World and Hamed Ali, Chief Executive of Nasdaq Dubai.
"As the international financial exchange based in our home region, Nasdaq Dubai is the ideal listing venue to support our visibility as we expand our business activities worldwide. Our success in raising capital using securities listed on the exchange, from investors located both in the Middle East and around the globe, plays an important role in our continued growth and development," said Sultan Ahmed bin Sulayem.
The US$500 million conventional bond is the third debt issuance that has been listed by DP World on Nasdaq Dubai, following a US$1.5 billion Sukuk and a $1.75 billion conventional bond that were both listed in 2007. DP World listed its shares on the exchange the same year.
Essa Kazim said, "Dubai's capital markets framework is designed to provide effective support to leading global companies such as DP World that seek a robust regulatory environment and an effective platform for their securities. The listing of this bond by Dubai's international ports operator, on Dubai's international financial exchange, reflects the emirate's growing success in creating productive collaboration across a range of business sectors."
DP World's $500 million conventional bond listed on Nasdaq Dubai on June 10th, 2015.