Congo’s $1.55 Billion Offering Welcomed by Nasdaq Dubai
Nasdaq Dubai has welcomed the secondary offering of two sovereign bond issues by the Republic of the Congo, totalling $1.55 billion, making the Republic of the Congo the first sovereign issuer from Africa to market securities on Nasdaq Dubai. The listing raises the profile of the Republic’s sovereign debt with Middle Eastern and worldwide institutional investors and deepens the cooperation between the UAE and the Republic of the Congo in the financial industry.
The secondary listing of the Republic of Congo on Nasdaq Dubai is in addition to the listing of its bonds on the London Stock Exchange and will boost its visibility among institutional investors, banks and corporates operating in the Middle East. This development underscores the deepening economic and financial links between the UAE and the Republic of the Congo, cemented through a Comprehensive Economic Partnership Agreement (CEPA).
Christian Yoka, Minister of Finance, Budget and Public Portfolio of the Republic of the Congo, rang the market opening bell today at Nasdaq Dubai to celebrate the listing, in the presence of Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM) and Mark Steward, Chief Executive, Dubai Financial Services Authority.
Christian Yoka, Minister of Finance, Budget and Public Portfolio of the Republic of the Congo said: The Republic of the Congo attaches great importance to the strengthening of its economic and financial partnership with the UAE.
We are happy to be the first African sovereign to issue securities in the UAE. Listing these bonds on Nasdaq Dubai is in line with our overall objective of broadening our investor base and is a reflection of our confidence in the UAE market and its role in linking issuers and international investors.
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