Mubadala hires banks to arrange for Yahsat’s IPO

Mubadala hires banks to arrange for Yahsat’s IPO

Abu Dhabi-based Mubadala Investment Company has hired banks to manage the planned initial public offering (IPO) of Al Yah Satellite Communications Company (Yahsat), three sources told Reuters. The IPO of Yahsat, which owns five satellites serving over 150 countries, could raise more than $500 million, the sources remarked. Bank of America, First Abu Dhabi Bank (FAB), and Morgan Stanley will act as global coordinators for the transaction, while EFG Hermes, HSBC, and Abu Dhabi Commercial Bank (ADCB) will act as bookrunners. It is noteworthy to mention that in early May 2021,