China Construction Bank on Wednesday celebrated the listing of a $600 million bond on Nasdaq Dubai, under the bank’s $6-billion medium term note (MTN) programme, said a report.

It is one of China’s most prominent banks with a market capitalisation of $173.3 billion at the end of 2015 and the fifth highest among listed banks in the world.

The bond listed on Nasdaq Dubai as the largest single listing by a Chinese bank on the exchange, said a statement from Nasdaq Dubai.

With this, the total bond and sukuk listings on Nasdaq Dubai are currently worth $53.9 billion, it stated.

Yuan Shengrui, the senior executive officer of the Dubai International Financial Centre (DIFC) branch of China Construction Bank yesterday (November 8) rang the market-opening bell to celebrate the listing.

"We look forward to strengthening our ties with Dubai and the UAE, which offer a business-friendly and welcoming environment in which we can successfully pursue a broad range of financial activities," noted Shengrui.

On the listing, Essa Kazim, the governor of DIFC and chairman of Dubai Financial Market (DFM), said: "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."

Abdul Wahed Al Fahim, the chairman of Nasdaq Dubai, said, "We look forward to further listings from businesses based in East Asian region. We are committed to continually enhancing our pre and post listing infrastructure to meet and exceed their expectations."

Hamed Ali, the chief executive of Nasdaq Dubai, said China Construction Bank was an important addition to the growing range of Chinese debt issuers that have chosen Nasdaq Dubai as their listing venue.

"The exchange is positioned to support the needs of Chinese financial institutions and other enterprises in a variety of asset classes as they strengthen their business and financial activities in our region and promote international prosperity," he added.-TradeArabia News Service