23 Mar, 2017Trading begins in ENBD REIT following USD 105 million IPO
Trading begins in ENBD REIT following USD 105 million IPO
Dubai, March 23, 2017 – Trading began today in shares of ENBD REIT following its 105 million US dollar initial public offering (IPO) on Nasdaq Dubai, the region’s international 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.
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.
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.
Nasdaq Dubai, formerly DIFX, is the international financial exchange in the Middle East. It allows companies to benefit from a unique investor pool that combines regional and international wealth, making it a globally unique platform for companies to raise money and for investors to find exciting opportunities.
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