Nasdak Dubai welcomes the inclusion of 450 million dollars from a company "He wanted"
Dubai, September 25 / WAM / Nasdaq Dubai welcomed today to include $ 450 million from “Arad Real Estate Development Company, and these sukuk was released within the” Erar 2 “bonds program, which amounted to one billion dollars, and it is worth in 2030.
According to a press release issued today, the issue witnessed a strong request from a wide base of regional and international investors, as the subscription exceeded the value of the offering by more than four times, with subscription requests registered that exceeded $ 2 billion, and the offering was priced at an investment return rate of 7.150%.
This listing is established “Arad” in the financial markets and debt tools, as the total value of its issues from the sukuk listed in Nasdaq Dubai increases to $ 1.5 billion distributed over three versions.
In celebration of the listing, His Royal Highness Prince Khalid bin Al -Walid bin Talal Al Saud, Vice Chairman of the Executive Board of Directors in “Arad”, knocked the opening of the trading session in NASDAC Dubai, along with Hamid Ali, CEO of Dubai Financial Market and NASDAC Dubai.
His Royal Highness Prince Khalid bin Al -Walid bin Talal Al Saud, Vice Chairman of the Executive Board of Directors in Arad, said that our third inclusion in Nasdaq Dubai reflects the growing confidence of international investors in Arad, and since our last issuance, we have expanded in two new markets and we have continued to achieve record results in launch, sales and delivery operations.
He added that this performance has strengthened the great global demand for our sukuk program, and it also establishes our position as one of the fastest growing developers in the region.
In turn, Hamed Ali, CEO of Dubai Financial Market and NASDAC Dubai, said that the inclusion of the new instruments of Arad Real Estate Development reflects the depth and diversity of the NASDAC Dubai Stock Exchange, and the wide turnout confirms the confidence that investors give to the exporter. With global capital, support the growth march led by leading Emirati companies, as well as consolidating Dubai’s position as a leading global center for Islamic finance.
According to the press statement, this listing supports the strategic expansion plans for “Arad”, so that the company will take the promising growth opportunities available in the UAE markets and abroad, and with this inclusion, the total value of the bonds in NASDAC Dubai rises to 100.6 billion dollars, while the total value of the debt tools listed on the stock exchange increases 141.6 billion dollars.
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