The sale attracted nearly US$2 billion in orders from both domestic and foreign investors, and it was oversubscribed more than four times. Strong investor demand was reflected in the issuance’s pricing, which was set at a 7.150 percent profit rate.
Arada has a proven track record in the debt capital markets, which is strengthened by this listing. Since this admission, Arada had three transactions totaling US$1.5 billion in outstanding Sukuk on Nasdaq Dubai.
In the presence of Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), HRH Prince Khaled bin Alwaleed bin Talal Al Saud, Executive Vice Chairman of Arada, rang the market-opening bell at Nasdaq Dubai on behalf of the firm to commemorate the listing.
We are thrilled to be going back to Nasdaq Dubai for the listing of our third Sukuk, which reflects the ongoing increase in confidence in Arada among international investors,” Prince Khaled stated. We have entered two new markets since our last issuance, and we are still hitting records for launches, sales, and deliveries. This impressive achievement has supported the substantial worldwide demand for our Sukuk program and solidified our standing as one of the top developers in the region, with the highest rate of growth.
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