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.
Middle East Stories
19/06/2025
Designed for multipurpose land and maritime use, the Thuraya Mobile Broadband Ho...
21/05/2025
Space42's debut at CommunicAsia 2025 to demonstrate advances in satellite communications, Earth observation, and high-altitude connectivity tailored for Asi...
21/05/2025
GIQ platform developed by Space42 in partnership with the UAE Space Agency, powe...
20/05/2025
Space42 to establish new Synthetic Aperture Radar (SAR) satellite manufacturing ...
19/05/2025
The new High Altitude Platform Stations (HAPS) facility enables Mira Aerospace, ...
15/05/2025
Continued delivery across four strategic pillars provides foundation for multi-year scalable growth
Strong balance sheet, USD 895 million in cash and nearly US...
07/05/2025
Abu Dhabi, UAE [Date] Space42 (ADX: SPACE42), the UAE-based AI-powered Space...
12/03/2025
Abu Dhabi, United Arab Emirates, and Copenhagen, Denmark: 12 March 2025: Space42...
11/03/2025
Abu Dhabi, UAE and Carlsbad, California 12 March 2025 Space42, (ADX: SPACE42...
03/03/2025
Abu Dhabi, UAE 3 March 2025 Thuraya, the satellite mobility arm of Space42, has Introduced Thuraya One, an Android 14 smartphone with built-in satellite cap...
27/02/2025
Abu Dhabi, UAE, 27 February 2025: Space42 PLC ( Space42 or the Company ), the UAE-based AI-powered SpaceTech company that seamlessly integrates satellite comm...
19/02/2025
Collaboration enables long-term testing and evaluation support for HAPS platform...
18/02/2025
The AED 378 million contract between Space42's Bayanat Smart Solutions and EDGE's FADA will enhance the nation's geospatial capabilities over the ne...
17/02/2025
The joint venture will leverage Space42's and FADA's advanced technologi...
11/02/2025
Space42's debut at IDEX highlights AI-powered space technologys role in modern defense and security
The Space42 stand will have live demonstrations of mult...
15/01/2025
Foresight-1 and Foresight-2 will boost UAE's earth observation capabilities
Comprising the latest SAR technology in cooperation with ICEYE
Abu Dhabi, U...
04/01/2025
Thuraya 4 will provide more secure capacity, faster speeds, and wider coverage across Africa, Europe, Central Asia and the Middle East
Launching the busines...
04/01/2025
Abu Dhabi, 04 January, 2025 :
Thuraya 4 will provide more secure capacity, faster speeds, and wider coverage across Africa, Europe, Central Asia and the M...
17/12/2024
Abu Dhabi, UAE, 17 December 2024: Space42 (ADX: SPACE42), the UAE-based AI-power...
10/12/2024
Abu Dhabi, UAE - 10 December 2024 Space42's Thuraya 4 telecommunications satellite, built by Airbus, has reached its destination at the Kennedy Space Cent...
09/12/2024
- The strategic joint venture addresses the growing demand for SAR satellite ima...
21/11/2024
Construction is underway at First Westlake Logistics Park
Construction on First Gulfs latest industrial development First Westlake Logistics Park in Ja...
19/11/2024
The appointment reflects Space42s commitment to building a dynamic market enviro...
11/11/2024
Space42 and the Ministry of Education launch SpaceTech educational campaign for ...
30/10/2024
The launch follows the successful implementation on 27 oil wells using an oil an...
28/10/2024
The multi-design, state-of-the-art Space42 Arena in Al Raha Beach, Abu Dhabi w...
15/10/2024
Dubai, 15 October, 2024 : Space42 and nybl unveil revolutionary AI solution to ...
01/10/2024
Space42 is a new, UAE-based AI-powered SpaceTech company with a global reach, in...
05/09/2024
In a milestone for Bronte Station Business Park, Element Materials Technology, a global leader in materials and product qualification testing, inspection, and ...
30/07/2024
Resilient first half performance with stable Normalised EBITDA and net income
Revenue, profitability and cash flow guidance reiterated for the full year
Abu D...
18/07/2024
Yahsat accelerates efforts to expand in Zimbabwe following agreement with Satcom...
10/06/2024
- Fully flexible, software-defined payloads will allow in-orbit reconfiguration of coverage area, capacity and communication frequencies
- Full programme cost...
29/05/2024
Marrakech, Morrocco, 29 May, 2024 : Marrakech, Morrocco, 29 May 2024: Al Yah Sa...
24/05/2024
The certification underscores world-class standards of services at Yahsat's Abu Dhabi Teleport
Abu Dhabi, United Arab Emirates, 21 May 2024: Al Yah Satelli...
22/05/2024
EUTELSAT KONNECT satellite will enhance Yahsat's satellite network with mult...
15/05/2024
Abu Dhabi, 15 May, 2024 : IP NEO is a Thuraya 4-ready lightweight portable sate...
15/05/2024
Abu Dhabi, 15 May, 2024 : IP NEO is a Thuraya 4-ready lightweight portable sate...
14/05/2024
Highest ever Q1 revenue with Normalised EBITDA growth of 7%
Profitability, cash flow and capital expenditure guidance reiterated
Abu Dhabi, United Arab Emirat...
10/05/2024
Abu Dhabi, 10 May 2024: Further to our previous communications about the unexpec...
10/05/2024
Abu Dhabi, 10 May, 2024 : Abu Dhabi, 10 May 2024: Further to our previous commu...
09/05/2024
The visit discussed potential for Yahsat to expand its presence in South Africa ...
25/04/2024
Bayanat AI PLC (ADX: BAYANAT), a leading AI-powered geospatial solutions provider, and Al Yah Satellite Communications Company P.J.S.C. (ADX: YAHSAT), the UAE&#...
23/04/2024
The merger will provide vertical integration potential and enhanced product offerings to capture regional and international opportunities for revenue growth and...
23/04/2024
Abu Dhabi, 23 April, 2024 : Partnership delivers greater cybersecurity to Thura...
02/04/2024
Abu Dhabi, 02 April, 2024 : Abu Dhabi, United Arab Emirates, 2 April 2024: Thur...
01/04/2024
Mr. Somani will oversee the development and implementation of the company's growth strategy and spearhead global strategic partnerships
Abu Dhabi, United A...
21/03/2024
- A circular was issued today setting both entities' General Assembly Meetin...
21/03/2024
- A circular was issued today setting both entities' General Assembly Meetin...
18/03/2024
Abu Dhabi, 18 March, 2024 : Abu Dhabi, 18 March 2024: Thuraya Telecommunication...
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).
