China's ICBC lists $400m bond on Nasdaq Dubai

Pedestrians walk past a branch of ICBC (Industrial and Commercial Bank of China) in Shanghai, China, Dec 4, 2014. [Photo/IC]

DUBAI - Nasdaq Dubai said on Sunday that it welcomed the listing of a $400 million conventional bond by the Industrial and Commercial Bank of China (ICBC), the world's biggest lender in relation to assets.

This listing marked the second bond to be listed by ICBC on the Middle East's international exchange, following a $500 million listing in May 2015, said Nasdaq Dubai in an e-mailed statement.

The exchange is the only international market by regulatory standards in the Middle East.

The new listing underlines the continuing expansion of capital markets links between the UAE and China, as well as the success of Dubai in positioning itself as the leading financial center in the Middle East.

Hamed Ali, Chief Executive of Nasdaq Dubai, said Nasdaq Dubai provides ICBC with high regional and global visibility as well as close links with investors everywhere.

In 2008, ICBC was the first of the biggest four Chinese lenders establishing its Middle East headquarters in the banking free zone DIFC in Dubai. The Nasdaq Dubai is a licensed market of the DIFC.