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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.
Dubai: Dubai s Foundation Holdings Co. bought a stake in a Saudi Arabia-based primary health chain, marking its second investment in the kingdom s fast-growing market for medical care, and said it plans to list the firm in the next two years.
The healthcare and education investment firm acquired 51% of Shifa Al Munthaza Polyclinic, Chief Executive Officer Abhishek Sharma said in an interview. Foundation Holdings plans to invest about 250 million riyals ($67 million) in Saudi Arabia s primary healthcare sector, he said, almost half of which was spent on the Shifa deal.
The kingdom s primary healthcare market is expected to grow to 50 billion riyals in 2025 from 28.6 billion currently. Healthcare in Saudi Arabia is one the fastest growing markets in the region, Sharma said. We invest in local champions to make them bigger and stronger, and then we take them public and make them more sustainable.