Mubadala-owned Yahsat plans to list on Abu Dhabi Securities Exchange

Mubadala-owned Yahsat plans to list on Abu Dhabi Securities Exchange

Abu Dhabi / WAM

Al Yah Satellite Communications Company PJSC (Yahsat) on Monday announced its intention to proceed with an initial public offering (IPO) of part of its existing shares and to apply for admission of all of its shares to listing and trading on the Abu Dhabi Securities Exchange (ADX). At least 30 percent of Yahsat's issued share capital currently held by Mamoura Diversified Global Holding PJSC (the Selling Shareholder), a wholly-owned subsidiary of Mubadala Investment Company PJSC (Mubadala), will be included in the offering to individuals and other investors in the UAE (as part of the UAE retail offering) and to qualified institutional and other investors (as part of the qualified investor offering). Musabbeh Al Kaabi, Chief Executive Officer of UAE Investments at Mubadala and Chairman of the Board of Directors at Yahsat, said: "Mubadala takes pride in the creation of Yahsat, and is proud of its position as one of the world's leading fixed and mobile satellite communication providers, through its high caliber of talented UAE experts and international experts. In line with our mandate to drive technological transformation and economic diversification of the UAE, we strive to develop a world-class innovation and technology-driven ecosystem that attracts investment