Yinchuan Tonglian Capital Investment Operation Company (Tonglian) of China today celebrated the listing a $300 million bond on Nasdaq Dubai, the international exchange serving the Middle East.

 

Zhang Honglin, chairman of the company, rang the market opening bell to mark the listing.

 

The listing by Tonglian underlines the expanding economic and capital markets ties between China and the UAE and wider Arab world. The proceeds of the bond issuance will be used for general corporate purposes including construction of Binhe New District Industrial Park in Yinchuan, which last month hosted the annual China-Arab States Expo trade exhibition, said a statement.

 

Tonglian is preparing to increase its activities in sectors including municipal infrastructure projects, transport, affordable housing, water supply and cultural assets in Yinchuan, the capital of Ningxia province, which has a substantial Muslim population. 

 

The bell-ringing ceremony was attended by His Excellency Essa Kazim, Governor of Dubai International Financial Centre (DIFC) and chairman of Dubai Financial Market (DFM), as well as Abdul Wahed Al Fahim, chairman of Nasdaq Dubai, and Hamed Ali, the exchange's chief executive.   

 

Honglin said: "Our bond listing on Nasdaq Dubai strengthens the close relationship that China enjoys with the UAE and other Arab countries in a range of activities, which includes capital-raising, investment and trade. As the region's international exchange, Nasdaq Dubai provides us with excellent links to regional as well as global investors who wish to support our business and development activities in the Yinchuan area."

 

 

 

Kazim said: "Through its longstanding strategy of developing world class capital markets, Dubai is positioned to provide Chinese issuers with the well regulated and efficient listing infrastructure that they need to expand their capital-raising links with our region. Tonglian's listing reflects the success of the UAE's partnership with China for the mutual benefit of both nations and their peoples."   

 

Abdul Wahed Al Fahim, Chairman of Nasdaq Dubai, said:  “Since our first bond listing from  China in 2014, we have worked successfully to establish Nasdaq Dubai as the region’s leading listing venue for Chinese institutions. We are delighted to provide an effective  platform to raise the visibility of Chinese entities as they raise their profile and extend their business relationships across the Middle East and beyond.”  

 

Hamed Ali said: “As the first Chinese issuer from outside the banking sector to list on Nasdaq Dubai, Tonglian is blazing a trail that we believe will be followed by many other government and private entities based in China. We will continue to streamline our listing architecture and services for issuers and their investors to meet the evolving requirements of Chinese entities.”    

 

Eight bonds from Chinese institutions with a total value of $4.26 billion are currently listed on Nasdaq Dubai, said the statement.  - TradeArabia News Service