|By Arabian Post Staff| China Construction Bank today marked the listing of a $600 million bond on Nasdaq Dubai under the bank’s six billion US dollar Medium Term Note Programme.
Yuan Shengrui, Senior Executive Officer of the DIFC branch of China Construction Bank (CCB), rang the market-opening bell to celebrate the listing.
CCB is one of China’s most prominent banks with a market capitalisation of 173.3 billion US dollars at the end of 2015, the fifth highest among listed banks in the world.
The listing supports the expansion of CCB’s commercial and financing activities across the Middle East, as well as underlining Dubai’s central role in the development of capital markets ties between the region and East Asia.
The bell 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; and Hamed Ali, Chief Executive of Nasdaq Dubai.
Yuan Shengrui said that the international framework provided by Nasdaq Dubai, as well as its close links to investors in its region and beyond, give China Construction Bank excellent visibility as the bank raises its profile across the Middle East.
Essa Kazim reiterated Dubai’s commitment to providing issuers from East Asia and around the world with an effective and responsive exchange architecture that meets all their requirements.
CCB’s bond listed on Nasdaq Dubai on October 4, 2016, as the largest single listing by a Chinese bank on the exchange. All bond and Sukuk listings on Nasdaq Dubai currently total $53.9 billion.