Dubai - Nasdaq Dubai has announced the listing of USD 400 million Floating Rate Notes by Agricultural Bank of China (DIFC Branch). This marks the Bank’s second bond listing on Nasdaq Dubai amidst deepening China-UAE economic ties.

The USD 400 million Note, issued under the USD 15 billion Medium Term Note Programme are due in 2027. Agricultural Bank of China (''ABC'') is one of the "Big Four" banks in China.

The new issuance reflects ABC's strategic expansion in global markets and enhances Nasdaq Dubai’s fixed income listing portfolio. Total value of outstanding fixed incomes listings on Nasdaq Dubai stands at USD 135 billion.

The bell ringing ceremony took place in the presence of H.E Ou Boqian, Consul General of the People's Republic of China in Dubai and Hamed Ali, Chief Executive of Nasdaq Dubai and DFM.

H. E Ou Boqian, Consul General of the People's Republic of China in Dubai, highly praised ABC's Dubai institutions for the achievements in advancing the Belt and Road Initiative (BRI). In celebrating and commemorating the 40th anniversary of the establishment of the diplomatic relations between China and the UAE, Her Excellency expressed expectations that Chinese financial institutions here in Dubai, including ABC, shall actively implement the spirit of the Joint Statement signed by the two governments this May, injecting financial momentum into BRI-related investments and trade projects. Her Excellency also emphasized the importance of enhancing China-UAE friendly cooperation across various fields and fostering deeper the people-to-people bond.

Hou Guifeng, SEO of ABC DIFC Branch, noted that in recent years, the Branch has been strategically positioned in the UAE to serve the wider Middle East and North Africa region. Focused on projects with ‘Chinese Elements’, the Branch has actively and steadily promoted the implementation of the Belt and Road Initiative, deeply participating in the development of solar power generation, seawater desalination, aviation and shipping, and clean energy projects in the region. The successful issuance of Belt and Road-themed bonds will further add financial impetus and momentum to the promotion of financial and business cooperation in this region.

Celebrating the issuance, Hamed Ali, CEO of DFM and Nasdaq Dubai, said: “We are pleased to welcome the USD 400 million listing from ABC on Nasdaq Dubai. As the premier global hub for international bond listings, the exchange is committed to providing an innovative and robust platform for global issuers to access regional and international investors. We look forward to supporting ABC in their continued growth and success in the international capital markets.”

About Agricultural Bank of China:

Agricultural Bank of China is one of the major integrated financial service providers in China and a listed company on both the Shanghai Stock Exchange and the Hong Kong Stock Exchange. Capitalizing on its comprehensive business portfolio, extensive distribution network and advanced IT platform, Agricultural Bank of China provides a diverse portfolio of corporate and retail banking products and services for a broad range of customers and conducts treasury operations and asset management. At the end of 2023, the Bank had total assets of RMB39,872,989 million and achieved a net profit of RMB269,820 million. Its capital adequacy ratio was 17.14%. The Financial Stability Board has included the bank into the list of Global Systemically Important Banks for ten consecutive years since 2014. In 2023, the bank ranked No. 3 among global banks in terms of tier 1 capital. Agricultural Bank of China (DIFC Branch), founded in March 2013, is the Bank’s first branch in the MENA region. Agricultural Bank of China (DIFC Branch) is regulated by Dubai Financial Services Authority (DFSA).

About Nasdaq Dubai:  

Nasdaq Dubai is the international financial exchange serving the region between Western Europe and East Asia. It welcomes regional as well as global issuers that seek regional and international investment. The exchange currently lists shares, derivatives, Sukuk (Islamic bonds), conventional bonds and Real Estate Investment Trusts (REITS). The majority shareholder of Nasdaq Dubai is Dubai Financial Market with a two-thirds stake. Borse Dubai owns one third of the shares. The regulator of Nasdaq Dubai is the Dubai Financial Services Authority (DFSA).

For further information, please contact:
Noora Al Soori
Communications and Public Relations
Dubai Financial Market
E: nalsoori@dfm.ae

Shruti Choudhury                                                                Shraddha Sundar                          
Account Director                                                             Account Manager
Edelman Smithfield                                                              Edelman Smithfield
E: dfmedelmansmithfield@edelman.com                           E: dfmedelmansmithfield@edelman.com