Nakheel asks for suspension of 3 listed sukuk

Following the announcement on November 25 from the Dubai Government, property developer Nakheel said Monday it has asked for three of its listed Islamic bonds, or sukuk, on Nasdaq Dubai to be suspended until it is in a position to inform the market more fully.

"Following the announcement on Wednesday Nov. 25 from the government of Dubai, Nakheel has today asked for all three of their listed sukuk to be suspended until it is in a position to fully inform the market," it said in a statement on the Nasdaq Dubai. Nakheel is one of two flag ship companies, along with Dubai World, which announced last week that they would seek a debt standstill agreement from creditors, until May 2010.