Monday 15 August 2022 - 12:17:04 pm

Nasdaq Dubai welcomes listing of US$600 million Sukuk by Kuwait’s Ahli United Bank

DUBAI, 29th June, 2021 (WAM) -- Abdullah AlLanqawi, General Manager and Treasurer of Ahli United Bank (AUB) Kuwait, today rang the Nasdaq Dubai market opening bell to celebrate the listing of a US$600 million Sukuk issued by the bank.

The new listing has increased the total value of debt issuances listed on Nasdaq Dubai by Kuwaiti issuers to $1.51 billion. It has also reinforced Dubai’s status as one of the world’s largest centre for Sukuk listings with a total value of $77.56 billion.

Commenting on this listing, Jehad Al-Humaidhi, Acting CEO of AUB Kuwait, said, "Ahli United Bank, Kuwait has successfully issued and listed AT1 Capital Sukuk with $600 million. Subscriptions reached $1.8 billion representing 3 times the targeted size. The issuance is priced at 3.875% p.a. distributable semiannually. The oversubscription reflects investors’ confidence in AUB’s management, performance and capability.

"This issuance will further support AUB’s capital base and is the second Sukuk issuance by AUB Kuwait to be listed successfully on Nasdaq Dubai. It is attributable to our trust in Nasdaq’s Dubai creditability and transparency in dealing fairly with all issuers and investors."

Hamed Ali, CEO of Nasdaq Dubai and Deputy CEO of DFM, said that this momentum underscores the exchange’s advanced regulations and infrastructure as well its active role to meet requirements of the leading institution in the region and beyond. The successful listing of AUB’s Sukuk underlines the close ties between the capital markets in Kuwait and the UAE.

The AUB Sukuk listed on Nasdaq Dubai on 17th June, 2021.