(MENAFNEditorial)
JAKARTA February 27 2015 – The government would immediately issue global sukuk (sharia securities) which would be listed on the stock exchanges of Singapore and Dubai in the second quarter of 2015.
Director of Islamic Finance for the Directorate General of Debt Management (DJPU) Ministry of Finance Suminto said it already established four joint lead managers to assist in marketing the Indonesian government’s global sukuk.
Those four joint lead managers were HSBC Bank CIMB Bank JP Morgan and Dubai Islamic Bank.
"Global sukuk will be issued in the second quarter. Joint lead managers have been selected to help book orders. But we cannot say about the value tenor and when the road show be held" he said in the Indonesia Stock Exchange (IDX) building Thursday (2/26/2015).
According to him the difference with the last time was that this issuance was also listed on the Dubai Stock Exchange in addition to the Singapore Stock Exchange. Global sukuk issued last year was only listed on the Singapore Stock Exchange.
"For the secondary market we will also list in Dubai to reach the Middle East investors so many of them will purchase. No problem if it’s a double listing" he explained.
Last year from the global sukuk issuance worth US$1.5 billion the largest investors were from the Middle East.
As for the details about 35% were Islamic investors from the Middle East 10% were Indonesian investors 20% were investors in Asia excluding Indonesia 20% were US investors and 15% were European investors. Read more...
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