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Kuwait’s Ahli United Bank rings Nasdaq Dubai bell to celebrate listing of US$ 600 million Sukuk

PUBLISHED ON 29-Jun-2021
Kuwait’s Ahli United Bank rings Nasdaq Dubai bell to celebrate listing of US$ 600 million Sukuk

Abdullah AlLanqawi, General Manager and Treasurer of Ahli United Bank (AUB) Kuwait, one of Kuwait’s leading financial institutions, 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 US$ 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 US$ 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 US$ 600 million. Subscriptions reached US$ 1.8 billion representing 3 times the targeted size. The issuance is fairly 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: “As the region’s international exchange, we are pleased with the rapid expansion of Nasdaq Dubai’s Sukuk market that continues to attract numerous corporate and sovereign issuances alike. This momentum underscores the exchange’s advanced regulations and infrastructure as well its active role to meet requirements of 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 17 June 2021.


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