This is the first IPO listed in the UAE since 2017, and the first ever IPO of a Mubadala subsidiary, representing an important milestone for Abu Dhabi markets and Mubadala. Demand from local and international institutional and retail investors resulted in the IPO being oversubscribed multiple times, further emphasising investor confidence.
With operations in more than 150 countries spanning five continents, Yahsat is the preferred partner for reliable integrated satellite communication solutions and an industry centre of excellence for both government and commercial customers. Yahsat was established in the UAE in 2007 to meet the growing demand for satcom services by providing a secure and reliable means of global connectivity, regardless of geographic constraints.
The Clifford Chance team was led by partner and head of the Middle East equity capital markets practice, Mike Taylor. He was supported by a Dubai-based team including Regional Managing Partner – Middle East, Mohammed Al-Shukairy, senior associates Rezwan Azam and Zahra Shahab; and a London-based US securities team including partner John Connolly, senior associate Christopher Osborne and associate Rachel Sumption.
Mike Taylor commented: “We are delighted to have supported Yahsat and advised the banks on this landmark and strategically important transaction in the UAE capital markets space. It is a testament to Mubadala, Yahsat, the banks and the ADX that the IPO has been such a success.”
Click here to read Mubadala and Yahsat’s press release.
