Dubai: United Arab Satellite Equipment Company Al Yah Satellite Communications Co. goes for a stock market by offering almost 30 percent of its issued share capital to the public.
This nearly 30 percent is currently owned by Mamoura Diversified Global Holding, a wholly owned subsidiary of Abu Dhabi’s wealth fund Mubadala Investment Company. The shares are offered to individuals and other investors in the UAE (as part of the UAE’s retail offering) and to qualified institutional and other investors (as part of the qualified investor offering).
Musabbeh Al Kaabi, CEO of UAE Investments at Mubadala and Chairman of Yahsat, said: “Mubadala is proud of the creation of Yahsat and is proud of its position as one of the world’s leading fixed and mobile satellite communications providers, due to its high caliber of talented UAE and international experts. We believe that the listing of Yahsat on the Abu Dhabi Stock Exchange reiterates our role in contributing to the growth of the UAE economy. ”