Space42 debuts on Abu Dhabi Securities Exchange
Space42 aims to develop hybrid connectivity and geospatial services to meet demand from autonomous vehicles and other emerging capabilities.
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Space42 aims to develop hybrid connectivity and geospatial services to meet demand from autonomous vehicles and other emerging capabilities.
Trading of the newly issued Bayanat AI PLC shares, following the merger, will begin on October 1.
On completion of the merger, Mansoor Al Mansoori will assume the role of Chairman, Dr Bakheet Al Katheeri as Vice Chairman and Karim Michel Sabbagh will join as Managing Director ...
The merger is expected to take place in the second half of 2024, until then Bayanat and Yahsat will continue to operate independently.
The UAE telco acquired a 9.8% stake in Vodafone for $4.4bn in May before increasing its shareholding to 11% last month.
The acquisition completion followed an initial announcement of the deal in March 2022.
The deal with the Abu Dhabi Fund for Development will increase the UAE operators ownership in Maroc Telecom to 53%.
Mubadala retains a c.60% shareholding in the company and is fully aligned with Yahsat.
The final offer price for the offering has been set at Dh2.75 ($0.27) per share
This will be the first IPO of a company on the Abu Dhabi bourse since Abu Dhabi National Oil Co Distribution was listed in 2017.
The offering is expected to take place in Q3 of 2021 and will be open to retail and qualified institutional investors.
