DIB’s sukuk prospectus
Issue 1028
- 15 Dec 2016
| 1 minute read
Plantation Holdings filed its case against Dubai Islamic Bank (DIB) at the High Court in London on 5 August 2013 and submitted an amended claim in February 2014. Despite this, DIB failed to declare the existence of the claim in its prospectus for a $1bn sukuk which it published in January 2015. HSBC and Standard Chartered Bank were the structuring banks and joint lead managers of the Islamic bond, which was supported by six UAE-based banks including DIB itself. The prospectus was approved by the Dubai Financial Services Authority and also published on the Irish Stock Exchange.
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