China Construction Bank, one of China’s âbig fourâ state-owned banks, has listed $600 million of bonds on the Nasdaq Dubai exchange.
Yuan Shengrui, senior executive officer of the bank’s local branch, rang the market-opening bell to celebrate the listing, in October, which the exchange says is its biggest single listing by a Chinese bank.
Part of the bank’s global effort to raise $6 billion in debt, the Dubai bonds will fund commercial and financing activities in the Middle East.
“Dubai is committed to providing issuers from East Asia and around the world with an effective and responsive exchange architecture that meets all their requirements,” said Essa Kazim, governor of the Dubai International Financial Centre, where Nasdaq Dubai is located.
Nasdaq Dubai says nearly $54 billion of bonds, both conventional and Islamic, have been listed on the exchange.
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