Nasdaq Dubai has seen listing of a $500m Sukuk by APICORP, the multilateral development bank established to foster the development of the Arab world’s oil and gas industries.
It is APICORP’s second Sukuk listing on Nasdaq Dubai, following a $500m listing in January 2016. The Sukuk have been issued under a $3bn Sukuk programme that APICORP announced in 2015, aimed at diversifying its funding sources and reducing its overall cost of financing.
APICORP’s activities include equity investment, debt financing, financial advisory and energy research services.
Sukuk listings in the Dubai currently almost $53bn. Eleven Sukuk listings have taken place so far in 2017 on Nasdaq Dubai with a total value of $10.25bn.