Nasdaq Dubai lists 3 bonds from ICBC as bank boosts activities

Chinese lender was ranked the largest bank in the world by market capitalisation in 2016

Nasdaq Dubai said yesterday it listed three bonds issued by Industrial and Commercial Bank of China Dubai (DIFC) Branch.

ICBC was ranked the largest bank in the world by market capitalisation in 2016 by Forbes magazine. ICBC listed two bonds of $400 million (Dh1.4 billion) and $300 million respectively, as well as a bond of €500 million (Dh2 billion).

The listings underline the expansion of the bank’s activities across the region as well as the growing financial relationship between Dubai and China. The bank operates across 42 countries and territories.

Five ICBC bonds are now listed on the exchange, following the listings of a $500 million bond in May 2015 and a $400 million bond in June 2016. Nasdaq Dubai provides ICBC and its other issuers with close links to investors around the world as well as a first class listing infrastructure.

Nasdaq Dubai is the international financial exchange serving the region between Western Europe and East Asia. The majority shareholder of Nasdaq Dubai is Dubai Financial Market with a two-thirds stake.

Boerse Dubai owns one-third of the shares.