Mubadala hires banks to advise on Yahsat IPO - report

News Video United Arab Emirates 4 MEI 2021
Mubadala hires banks to advise on Yahsat IPO - report

The UAE-based Mubadala Investment Company has hired Bank of America and Morgan Stanley as advisors for a potential initial public offering (IPO) of satellite operator Yahsat, Bloomberg reported, citing people familiar with the matter. Yahsat is expected to be listed on the Abu Dhabi Securities Exchange (ADX), according to the sources. The size and timing of the offering have not been decided yet.

In February, the CEO of Yahsat, Ali Al Hashemi, said that Mubadala was considering an IPO of the satellite operator. Yahsat provides satellite communications solutions in more than 150 countries and owns five satellites as well as satellite phone operator Thuraya.
 


Categories:

Satellite

Companies:

Thuraya,  Yahsat

Countries:

United Arab Emirates

Tags:

Corporate, Finance, Satellite, Financial funding

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