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Alpha Dhabi's unit to invest $25m in SpaceX

Alpha Dhabi's unit to invest $25m in SpaceX
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Alpha Dhabi
ALPHADHABI
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Abu Dhabi - Mubasher: Alpha Dhabi Partners Holding, a subsidiary of Alpha Dhabi Holding, will invest $25 million in SpaceX, established by Elon Musk to design, manufacture, and launch advanced rockets and spacecraft.

The company announced that the management is completing all necessary procedures, subject to obtaining regulatory approvals, according to a recent bourse filing.

It is noteworthy to mention that during the first quarter (Q1) of 2022, the net profits attributable to the owners of Alpha Dhabi Holding surged to AED 1.97 billion, compared to AED 100.50 million in the year-ago period.