UAE – Mubasher: Abu Dhabi-based Mubadala Investment Company is studying the initial public offering (IPO) for its company Al Yah Satellite Communications, the incoming CEO of Al Yah Satellite, Ali Al Hashemi, told Bloomberg.
Al Hashemi said that Yahsat has a healthy financial position, enabling the company to launch an IPO.
"I can say that financially we are very healthy to be applicable for IPO, but Mubadala has to take the final decision," Al Hashemi remarked.
Yahsat, a wholly-owned subsidiary of Mubadala, offers integrated satellite communications solutions to more than 150 countries across Europe, the Middle East, Africa, South America, Asia, and Australasia
Al Hashemi, the current CEO of Thuraya Telecommunications and the General Manager of Yahsat Government Solutions, will occupy the CEO position of Yahsat Group in April.