Abu Dhabi’s Lunate Capital is introducing a new ETF tracking German sukuk, next week, according to a statement (pdf). The Chimera S&P Germany UCITS ETF, set to list on the ADX on 26 September, will track the S&P Germany BMI Liquid 35/20 Capped Index and feature top German companies like Siemens, Allianz, Bayer, and Mercedes-Benz. The index is up 13.5% YTD.

The initial offering period for the ETF kicked off yesterday and wraps on 20 September. The offering price was set at AED 3.71 during the initial offering period. Investors can subscribe through the authorized participants: International Securities, EFG Hermes, Arqaam Securities, and BHM Capital.

This is the fifth ETF Lunate launches this year, and the fifteenth to be listed on the Abu Dhabi bourse, according to a press release. Lunate and JP Morgan Chase launched the UAE’s first bond ETF in March covering investment-grade bonds worth USD 500 mn or more. The firm also launched its Indian ETF earlier this year on the ADX, tracking the performance of Shariah-compliant Indian stocks. In May, Lunate rolled out its Japanese ETF, tracking the S&P Japan BMI Liquid 35/20 Capped Index, and introduced its global sukuk ETF with JP Morgan in June.

It’s a good time for a German ETF: German stocks have been hitting record highs, defying concerns over Germany’s economy, which shrank in 2Q, on the back of geopolitical tensions and reduced demand from China, a key trading partner, Bloomberg reports.

ADVISORS- BNY Mellon (Ireland) has been appointed as the administrator, registrar, and distribution agent.