Sony Pixel Power calrec Sony

Mubadala-owned Yahsat announces the offer price range for its IPO and the opening of the s...

28/06/2021

Al Yah Satellite Communications Company PJSC ( Yahsat or the Company ) today announces the opening of the subscription period for the initial public offering (the IPO or the Offering) of part of its existing shares (the Shares ) on 27th June 2021 which will continue until Tuesday, 6th July 2021 for individuals and other investors in the UAE (as part of the UAE retail offering) and until Thursday, 8th July 2021 for qualified institutional and other investors (as part of the qualified investor offering).

The offer price range has been set at AED 2.55 to AED 3.05 per share.

The final offer price for the Shares is expected to be announced on 9th July 2021.

The Offering creates an opportunity for investors to participate in the potential strategic growth of a leading integrated satellite communication services provider. Mubadala will remain a majority shareholder following the Offering of at least 30% and up to 40% of Yahsat's issued share capital, all of which is currently held by Mamoura Diversified Global Holding PJSC (the Selling Shareholder ), a wholly-owned subsidiary of Mubadala Investment Company PJSC ( Mubadala ).

It is expected that the Shares will be admitted to trading on the Abu Dhabi Securities Exchange (ADX) on 14th July 2021, subject to market conditions and obtaining relevant regulatory approvals.

Ali Al Hashemi, Chief Executive Officer of Yahsat, said:

We believe that we have established a strong and proven operational and financial track record over the years which, coupled with the ever-growing adoption of technological solutions and promising prospects of the space industry in Abu Dhabi and the UAE more broadly, provides a compelling proposition for potential investors. We look forward to their participation in Yahsat's growth story.

With operations in more than 150 countries spanning 5 continents, Yahsat is the preferred partner for reliable integrated satellite communication solutions and an industry centre of excellence for both government and commercial customers. The Company was established in the UAE in 2007 to meet the growing demand for satcom services by providing a secure and reliable means of global connectivity, regardless of geographic constraints.

Details of the Offering

It is intended that the Offering will comprise of (i) a public offering to individual and other investors in the UAE (the UAE Retail Offering ) and (ii) an offering to qualified institutional and other investors in the UAE and in a number of other countries (the Qualified Investor Offering ). The offer price per Share will be determined through, and following, a book-building process.

All of the Shares are being offered by the Selling Shareholder which, prior to the Offering, is the sole shareholder of Yahsat.

In connection with the Offering, each of the Company and the Selling Shareholder is expected to agree to lock-up arrangements restricting the disposal of the Companys securities for a period of time following admission of the Shares to listing.

Details of the Offering are included in an Arabic-language prospectus (the Retail Prospectus ) and public subscription announcement (the Public Announcement ) in respect of the UAE Retail Offering and an English-language international offering memorandum (the International Offering Memorandum ) in respect of the Qualified Investor Offering. The Retail Prospectus and the Public Announcement were published on 21st June 2021 and the International Offering Memorandum will be published today.

First Abu Dhabi Bank PJSC, Merrill Lynch International and Morgan Stanley & Co. International plc have been appointed as Joint Global Coordinators and Abu Dhabi Commercial Bank PJSC, EFG Hermes UAE Limited and HSBC Bank Middle East Limited have been appointed as Joint Bookrunners. First Abu Dhabi Bank PJSC has been appointed as the lead receiving bank and Abu Dhabi Commercial Bank PJSC has been appointed as a Receiving Bank.

The Offering has been declared Sharia compliant by the Internal Sharia Supervision Committee of HSBC Bank Middle East Limited.
LINK: https://www.yahsat.com:443/en/news/2021/mubadala-owned-yahsat-announce...
See more stories from yahsat

Middle East Stories

04/08/2022

Building Success in Torontos Downtown East Node

We are proud to announce that Toronto City Council has approved First Gulfs new King East Centre development. Located along Front Street East and Princess Stree...

20/07/2022

Building Success in Toronto's Downtown East Node

We are proud to announce that Toronto City Council has approved First Gulf's new King East Centre development. Located along Front Street East and Princess ...

01/07/2022

Yahsat Announces Appointment of Sulaiman Al Ali as Chief Commercial Officer of Yahsat to D...

In his new capacity, Sulaiman Al Ali will lead both YahClick, Yahsat's data ...

01/07/2022

Yahsat Announces Appointment of Sulaiman Al Ali as Chief Commercial Officer of Yahsat to D...

Abu Dhabi, 01 July, 2022 : In his new capacity, Sulaiman Al Ali will lead bo...

01/06/2022

Thuraya Celebrates 15 Years of Pioneering Satcom Leadership in Asia-Pacific

Abu Dhabi, 01 June, 2022 : New office opened in Singapore as part of the festivities Thuraya, the mobility solutions subsidiary of the UAE's flagship sate...

01/06/2022

First Gulf and Spear Street Capital partner to develop state-of-the-art life sciences campus

Mississauga, ON (June 1, 2022) First Gulf Corporation ( First Gulf ) has par...

11/05/2022

Yahsat Reports 1Q22 Revenue Growth of 9.4% and a 26.4% Increase in Profit

1Q22 revenue of AED 362.5 million [USD 98.7 million], up 9.4% year-on-year 1Q22 Adjusted EBITDA of AED 213.4 million [USD 58.1 million], up 6.8% year-on-year ...

05/05/2022

First Gulf and Nicola Wealth Real Estate acquire Oakville site slated for Industrial Condos

The partnership acquired the 13.4 acre site to develop small-bay industrial cond...

29/04/2022

Yahsat Awarded Contracts Totaling AED 28.3 Million in Value to Design and Deliver Advanced...

Yahsat has been appointed to enable UAE Government platforms with a satellite co...

12/04/2022

Yahsat Announces Results of Annual General Meeting and Total Dividend of AED 385.5 million...

All resolutions approved at AGM including amendment to dividend policy allowing ...

08/03/2022

Al Seer Marine and Yahsat Join Forces to Offer Interoperable Next Generation Satellite Co...

MoU signed to collaborate on line-fitting unmanned vessels and pre-qualifying Ya...

07/03/2022

Yahsat and EDGE Join Forces to Equip NIMR Vehicles with Interoperable Satellite Connectivi...

Yahsat and Edge have agreed to line-fit pre-qualified Comms-On-The-Move (COTM) s...

01/03/2022

Yahsat Reports Strong FY2021 Results Supported by Exceptional 4Q21 Performance

FY2021 revenue of AED 1.49 billion [USD 407.6 million], increased year-on-year driven by exceptional 4Q21 performance in which revenues grew 7.9% vs. prior year...

28/02/2022

Thuraya Launches its Innovative Push-to-Talk Communications Solution with Cobham SATCOM

Abu Dhabi, 28 February, 2022 : The new solution will provide users the abili...

24/02/2022

Thuraya Announces Partnership with Delnet International Corporation in the Philippines

Abu Dhabi, 24 February, 2022 : Thuraya and Delnet are bringing game-changing...

14/02/2022

Yahsat Awarded AED 909.5 Million Managed Services Mandate by the UAE Government

Yahsat will provide managed services for ground satellite communications services and solutions for the next 5 years Agreement represents an important mileston...

03/02/2022

Yahsat Awarded AED 24 Million Contract by Abu Dhabi Ship Building to Deliver Advanced Sate...

Yahsat will deliver advanced and secure satellite communication solutions Yahs...

26/01/2022

First Gulf purchases the former Element head office within the Sheridan Research Park in south Mississauga

First Gulf has continued to execute on its strategic growth and diversification ...

13/01/2022

Thuraya Signs Service Partner Agreement with Libya-based Altaqnya to Launch Multi-Platform Products and Solutions

Abu Dhabi, 13 January, 2022 : Thuraya signs service partner agreement with l...

13/01/2022

Thuraya Signs Service Partner Agreement with Libya-based Altaqnya to Launch Multi-Platform...

Abu Dhabi, 13 January, 2022 : Thuraya signs service partner agreement with l...

20/12/2021

Yahsat Collaborates with Emirates Schools Establishment to Connect UAE Students with High-...

Abu Dhabi, 20 December 2021: The collaboration between Emirates Schools Establis...

26/11/2021

Yahsat Announces Global Agreement with Ericsson to Boost Telecommunications Technologies, ...

Yahsat will provide advanced telecommunication services and solutions to integra...

25/11/2021

Yahsat Announces Global Agreement with Ericsson to Boost Telecommunications Technologies, Automation and IoT Sales and Services

Abu Dhabi, 25 November, 2021 : Yahsat will provide advanced telecommunicatio...

25/11/2021

Yahsat Announces Global Agreement with Ericsson to Boost Telecommunications Technologies, ...

Abu Dhabi, 25 November, 2021 : Yahsat will provide advanced telecommunicatio...

23/11/2021

Yahsat's Mobility Arm estimates $80 million of revenues from new broadband distribution ag...

Cobham SATCOM to be appointed as the main distributor, on a non-exclusive basis,...

23/11/2021

Yahsat's Mobility Arm estimates $80 million of revenues from new broadband distribution agreement with Cobham SATCOM

Abu Dhabi, 22 November, 2021 : Cobham SATCOM to be appointed as the main dist...

23/11/2021

Yahsat's Mobility Arm estimates $80 million of revenues from new broadband distribution ag...

Abu Dhabi, 22 November, 2021 : Cobham SATCOM to be appointed as the main dist...

22/11/2021

Yahsat to be added to the FTSE UAE Small Cap Index

Abu Dhabi, United Arab Emirates, 21 November 2021: Al Yah Satellite Communications Company PJSC ( Yahsat and, together with its subsidiaries, the Group ), the...

22/11/2021

Yahsat partners with Cobham SATCOM to deliver industry-leading capabilities for its mobile satellite systems

Abu Dhabi, 09 September, 2021 : The partnership with Cobham SATCOM will enab...

22/11/2021

Yahsat partners with Cobham SATCOM to deliver industry-leading capabilities for its mobil...

Abu Dhabi, 09 September, 2021 : The partnership with Cobham SATCOM will enab...

18/11/2021

Yahsat signs MoU with Mubadala Petroleum to explore advanced satellite technologies

The MoU establishes a framework to discuss the provision of fixed and maritime V...

17/11/2021

Tawazun and Yahsat launch Star Technologies to develop and manufacture satellite communica...

The initiative combines UAE talent and international expertise to create a self-...

15/11/2021

MSCI Includes Yahsat in its Global Indices

Abu Dhabi, United Arab Emirates, 14 November 2021: Al Yah Satellite Communications Company PJSC ( Yahsat and, together with its subsidiaries, the Group ), the...

12/11/2021

Yahsat's mobility business Thuraya and GTNT Reaffirm Commitment to Expand Mobile Satcom Business in Russia

Abu Dhabi, 11 November, 2021 : The new agreement enables Thuraya and GTNT to...

12/11/2021

Yahsat's mobility business Thuraya and GTNT Reaffirm Commitment to Expand Mobile Satcom B...

Abu Dhabi, 11 November, 2021 : The new agreement enables Thuraya and GTNT to...

08/11/2021

Yahsat reports robust financial performance for the nine months ended 30 September 2021

Year to date revenues broadly in line vs prior year with strong momentum going i...

07/11/2021

Yahsat and G42 to Collaborate on Remote Sensing and AI enabled Geospatial Analytics

The MoU brings together Yahsat's advanced upstream satellite capabilities an...

29/10/2021

First Gulf and Nicola Wealth Real Estate acquire another 13.5 acres in Whitby

First Gulf and Nicola Wealth Real Estate (NWRE) have purchased more suburban land in the GTA with the acquisition of a 13.5-acre industrial development property...

29/10/2021

Yahsat's Data Solutions Subsidiary YahClick Announces Strategic Pan-African Partnership wi...

YahClick expands its satellite broadband enterprise solutions in Nigeria, Zambia...

15/10/2021

First Gulf partners with Nicola Wealth Real Estate on land purchase in Whitby

First Gulf has once again partnered with Nicola Wealth Real Estate (NWRE) to acquire a 48-acre industrial development property in north Whitby. Situated on Ash...

11/10/2021

Yahsat's mobility business Thuraya secures AED 316 million distribution contracts

The agreements adds significantly to Yahsat's anticipated future cash flows ...

11/10/2021

Yahsat's mobility business Thuraya secures AED 316 million distribution contracts

Abu Dhabi, 10 October, 2021 : The agreements adds significantly to Yahsat'...

10/10/2021

Yahsat's Board approves proposal to amend dividend policy to allow semi-annual dividend pa...

The proposed update to the dividend policy to be presented for approval at the C...

06/10/2021

Yahsat appointed by UAE Government to assess expansion of existing fleet with two new sate...

Yahsat has been appointed to complete detailed analysis, assessment and recommen...

10/09/2021

Al Jazira Club Announces Yahsat as its First Team Official Training Partner

Abu Dhabi, United Arab Emirates, 8th of September 2021: Al Jazira Sports Club today announced a new partnership with Al Yah Satellite Communications Company PJS...

10/09/2021

Yahsat partners with Cobham SATCOM to deliver industry-leading capabilities for its mobil...

The partnership with Cobham SATCOM will enable Yahsat to enhance data services f...

09/09/2021

Yahsat selects SpaceX to launch its next-generation Thuraya 4-NGS satellite

Yahsat selects Falcon 9 to launch its Thuraya 4-NGS satellite SpaceX designs, manufactures and launches the world's most advanced rockets and spacecraft T...

08/09/2021

Yahsat selects SpaceX to launch its next-generation Thuraya 4-NGS satellite

08 September, 2021 : Yahsat selects Falcon 9 to launch its Thuraya 4-NGS satellite SpaceX designs, manufactures and launches the world's most advanced ...

03/09/2021

Yahsat Selects GMV to Provide Spacecraft Control Systems for Upcoming Thuraya 4-NGS Satell...

New Spacecraft Control System to provide highly secure and reliable monitoring a...