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By Saeed Azhar
DUBAI, June 21 (Reuters) - Abu Dhabi state investor Mubadala
will offer 30% to 40% of its satellite firm Yahsat in an initial
public offering (IPO), with a listing likely in the third
quarter, it said on Monday.
This will be the first listing of a company on the Abu Dhabi
bourse since the IPO of Abu Dhabi National Oil Co Distribution
in 2017.
Mubadala, which will remain a majority shareholder after the
listing, could offer 731.9 million to 975.9 million shares, it
said. The offer period was from June 27 to July 6, it added.
Established in 2007, Yahsat is one of the largest providers
of satellite communications services in the world in terms of
annual revenues, Mubadala said in a statement. It also owns
satellite phone operator Thuraya.
First Abu Dhabi Bank, Bank of America's securities
unit and Morgan Stanley & Co have been appointed as joint global
coordinators and Abu Dhabi Commercial Bank, EFG Hermes and HSBC
as joint bookrunners.
Yahsat is among the three portfolio companies that Mubadala
is pushing to go public this year, sources said.
It is close to making a decision on listing Emirates Global
Aluminium, which is owned by Mubadala and Investment Corp of
Dubai, and close to a potential U.S. listing of Santa
Clara-based semiconductor producer Globalfoundries, the sources
said.
Separately, Abu Dhabi National Oil Company is considering
listing its drilling business and its fertiliser joint venture
Fertiglobe.
(Reporting by Saeed Azhar; Editing by Edmund Blair)