Meanwhile at the London Stock Exchange

19 May, 2012

January saw two further sukuk listed on the London Stock Exchange bringing the total number of listings to 42. Emirates Islamic Bank (EIB) issued $500 million of five year Trust Certificates. The offer closed after 12 hours and was three times oversubscribed. Investors came from the Middle East (57%), Asia (29%) and Europe (14%).

First Gulf Bank similarly was looking to raise $500 million with a five year bond. The offer was 2.8 times oversubscribed. Investors came from the Middle East (69%), Asia (16%) and Europe (15%).