Trading begins in ENBD REIT following US$ 105 million IPO

DUBAI, — Trading began today in shares of ENBD REIT following its US$105 million initial public offering, IPO, on Nasdaq Dubai, region’s international financial exchange.

ENBD REIT is a Sharia’a-compliant Real Estate Investment Trust, REIT, managed by Emirates NBD Asset Management and established in Dubai International Financial Centre, DIFC.

Abdul Wahed Al Fahim, Chairman of Nasdaq Dubai, said, “As the established exchange for REIT listings in the UAE, we are delighted to welcome ENBD REIT to our market. The listing reflects Nasdaq Dubai’s ability to provide issuers with an effective platform for capital-raising, including access to international and regional investors, global visibility, and first class regulation.”

Hamed Ali, Chief Executive of Nasdaq Dubai, said, “ENBD REIT’s successful listing demonstrates the close links between the UAE’s property sector and its capital markets infrastructure. We look forward to further listings from regional and international issuers active in a range of sectors, which seek a listing on the international exchange based in the business and financial hub of the region.”

ENBD REIT invests in Sharia’a-compliant real estate assets and its securities are listed on Nasdaq Dubai as shares.

REITs are a type of property fund. Investors receive income from the properties in which the REIT invests, through dividends.

Source: Emirates News Agency