UAE-based satellite operator Yahsat announced the official listing of its shares and the commencement of trading on the Abu Dhabi Securities Exchange, following the successful completion of its IPO. The IPO represents the first public listing of a Mubadala subsidiary and creates a new platform for further value creation, the company said.
The offering was several times oversubscribed, attracting global institutional investors brining foreign direct investment into the UAE, as well as high demand from local investors. Through the Yahsat IPO, Mubadala was able to raise AED 2.68 billion by selling a 40 percent stake at AED 2.75 per share. This gives the group a market capitalisation of AED 6.7 billion. Mubadala retains a 60 percent shareholding in the company.
