Mubadala’s Satellite Group Yahsat IPO Raises $731 Million
- Sovereign fund sold 975.9 million shares at 2.75 dirhams each
- Yahsat IPO is first listing on Abu Dhabi exchange since 2017
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Abu Dhabi sovereign fund Mubadala Investment Co. has raised 2.7 billion dirhams ($731 million) in an initial public offering of satellite operator Yahsat after pricing shares near the middle of a marketed range.
A subsidiary of the fund sold 975.9 million shares in Yahsat, which trades under the name Al Yah Satellite Communications Co., for 2.75 dirhams each, according to a statement Friday, after marketing them for between 2.55 dirhams and 3.05 dirhams each.