Emirates News Agency – Yahsat intends to offer a percentage of its shares for public subscription and to be listed on the Abu Dhabi Securities Exchange

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ABU DHABI, 21st June, 2020 (WAM) — Al Yah Satellite Communications Company “Yahsat”, which is specialized in operating satellites, and wholly owned by Al Mamoura Diversified Global Holding Company, announced its intention to offer a minimum of 30% and a maximum of 40% of its issued capital and to list all Its shares are traded on the Abu Dhabi Securities Exchange.

The company confirmed in the public offering prospectus published today that the process of offering a percentage of the company’s shares for subscription will take place in two tranches. The stock by following the mechanism of price building for the stock based on the record of subscription orders.

The company decided to appoint First Abu Dhabi Bank, Merrill Lynch International, Morgan Stanley & Co.; and International plc, as joint global coordinators. Abu Dhabi Commercial Bank, EFG Hermes UAE and HSBC Bank Middle East Limited have been appointed as joint bookrunners.

First Abu Dhabi Bank was designated as the lead receiving bank, and Abu Dhabi Commercial Bank was designated as the receiving bank.

It is expected to start the process of offering and then listing the shares in the third quarter of 2021, and this will depend on market conditions and obtaining all required regulatory approvals.

The details of the subscription will be published in a prospectus in Arabic and an announcement of the public offering for the offering of the first tranche of individual subscribers in the UAE, and an international offering memorandum in English for the offering of the second tranche of subscribers from eligible companies and institutions.

WAM/Nasser Arif/Imad Al-Ali





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