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Mubadala Tees Up First Abu Dhabi IPO Since 2017, With More Ahead

  • Yahsat plans to list stake of as much as 40% next month
  • Abu Dhabi aims to diversify economy, revive local stock market
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Mubadala’s Al Kaabi Seeks International, Regional Investors
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Satellite operator Yahsat has filed for a listing in Abu Dhabi in what would be the first initial public offering on the emirate’s stock exchange since 2017.

Al Yah Satellite Communications Co., fully owned by Abu Dhabi’s $243 billion sovereign fund Mubadala Investment Co., plans to offer a stake of as much as 40% next month, according to a statement. The company offers satellite communications solutions in over 150 countries.