Yahsat sets the price range for the offering shares
Al Yah Satellite Communications Company announced the start of the subscription period for the initial public offering of part of its shares for sale from today, until Tuesday, July 6, for individuals and other investors in the country. As for companies and persons eligible for subscription, the period ends on Thursday, July 8 2021.
The company explained in a statement that the price range for the offering was set between 2.55 and 3.05 dirhams per share, and it expected the final offer price for the shares to be announced on July 9, 2021.
Mubadala will remain a major shareholder (majority stakeholder) in Yahsat after the listing, as the offering shares will represent a minimum of 30% and a maximum of 40% of the total shares owned by Al-Mamoura Diversified Global Holding (the selling shareholder). A company wholly owned by Mubadala Investment Company.
The shares are expected to be listed on the Abu Dhabi Securities Exchange on July 14, 2021, depending on market conditions and obtaining all required regulatory approvals.
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