Abu Dhabi satellite group Yahsat has met with banks about IPO - sources | Reuters
Al Yah Satellite Communications Company (Yahsat) has held the kick-off meeting with banks for a potential initial public offering, two sources familiar with the matter told Reuters.
Yahsat, backed by Abu Dhabi state fund Mubadala Investment Co, has five satellites that serve more than 150 countries, information on its website shows. It also owns United Arab Emirates satellite phone operator Thuraya.
Mubadala said in an email it does not comment on speculation and that in line with potential market opportunities, the fund may “choose to monetise certain assets at the right time”.
Yahsat did not immediately respond to a request for comment.
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