By Reuters Staff
2 Min Read
DUBAI (Reuters) - The initial public offering (IPO) of Yahsat, the satellite company of Abu Dhabi state investor Mubadala, is set to raise 2.68 billion dirhams ($730 million) after the deal was priced around the middle of an indicative price range.
Al Yah Satellite Communications Co (Yahsat) priced its IPO at 2.75 dirhams, against an earlier indicative price range of 2.55-3.05 dirhams a share, it said in a statement.
This is the first major IPO on the Abu Dhabi bourse since Abu Dhabi National Oil Co Distribution was listed in 2017.
Mubadala is selling a 40% stake in the deal, giving Yahsat a market capitalisation of 6.7 billion dirhams.