The figures, confirmed by parent company Mubadala on Sunday, were announced a week after Yahsat confirmed it would list on the Abu Dhabi Stock Exchange (ADX).
CEO, Ali Al Hashemi, 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.”
Although the price is now set, the size of the stake is still to be confirmed, with Yahsat still expecting "at least 30% and up to 40%" of the company to be sold. The stake currently belongs to Mubadala subsidiary Mamoura Diversified Global Holding PJSC. Mubadala will remain a majority shareholder.
The final offer price for the shares is expected to be announced on 9 July 2021 and it is expected that shares will be admitted to trading on ADX on 14th July.
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.
