Mubadala’s satellite group Yahsat IPO raises $731m
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The IPO gives Yahsat a market value of about Dhs6.7bn
July 11, 2021
Abu Dhabi sovereign fund Mubadala Investment has raised Dhs2.7bn ($731m) in an initial public offering of satellite operator Yahsat after pricing shares near the middle of a marketed range.
A subsidiary of the fund sold 975.9 million shares in Yahsat, which trades under the name Al Yah Satellite Communications, for Dhs2.75 each, according to a statement Friday, after marketing them for between Dhs2.55 and Dhs3.05 each.