Yahsat Plans to Proceed with IPO Listing

Yahsat Plans to Proceed with IPO Listing

Yahsat announced plans to proceed with an IPO to list and trade its shares on Abu Dhabi Securities Exchange (ADX).

The IPO will take place in the third quarter of this year, subject to regulatory approval.

"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 into Abu Dhabi and the UAE more broadly,“ said Musabbeh Al Kaabi, chief executive of UAE Investments at Mubadala and chairman of Yahsat.

"We believe the listing of Yahsat on Abu Dhabi's Stock Exchange further reiterates our role in contributing to the growth of the UAE economy,“ Kaabi added.

The announcement marks an "important milestone in Yahsat's journey as we continue to build on our strong national and international partnerships and invest in new technology to drive future growth“, Chief Executive Ali Al Hashemi said.

"We believe we have established a strong and proven operational and financial track record over the years and look forward to welcoming new investors to participate in Yahsat's growth story,“ he added.

With operations in more than 150 countries spanning five continents, Yahsat was established in the UAE in 2007 to meet the growing demand for satcom