On July 14 2021, Yahsat announced the official listing of its shares and the commencement of trading on the Abu Dhabi Securities Exchange, following the successful completion of its initial public offering. The company is now traded under the ticker symbol: YAHSAT. Yahsat's shareholder Mubadala sold 40% of its shares in the company, and remains the majority shareholder with a 60% stake.
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Mubadala-owned Yahsat successfully commences trading on ADX (dated 14 July, 2021)
Yahsat IPO Pricing Statement (dated 9 July, 2021)
Mubadala-owned Yahsat announces IPO final offer price (dated 9 July, 2021)
Announcement on the final offer price and the final offer size (dated 9 July, 2021)
Frequently Asked Questions (dated 28 June, 2021)
International Offering Memorandum (dated 27 June, 2021)
Listing Announcement (dated 27 June, 2021)
Local Prospectus (excluding price range) (dated 21 June, 2021)
Public Announcement (dated 21 June, 2021)
Mubadala-owned Yahsat Announces Intention to List on Abu Dhabi Securities Exchange (dated 21 June, 2021)
Please read this carefully as it applies to all persons who visit this website. This part of the website contains information and documents relating to an offering of securities of Al Yah Satellite Communications Company PJSC. You may not be eligible to view the contents of that information and those documents. Accordingly, if you wish to access this part of the website you must first inform yourself about and then observe the statutory and regulatory requirements applicable to you and to your jurisdiction. In order to establish whether or not you may view the information and documents please read the disclaimer below in full.
These materials do not contain or constitute an offer of, or the solicitation of an offer to buy, the securities of Al Yah Satellite Communications Company PJSC (the “Company”, and such securities, the “Securities”) to any person in the United States, Australia, Canada, Japan or South Africa or in any jurisdiction in which such offer or solicitation is unlawful. The Securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or with any securities regulatory authority of any state or other jurisdiction of the United States. The Securities may not be offered or sold in the United States, except pursuant to an applicable exemption from the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States. The offer and sale of the Securities have not been and will not be registered under the applicable securities laws of Australia, Canada or Japan. Subject to certain exceptions, the securities to which these materials relate may not be offered or sold in Australia, Canada or Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada or Japan. No public offering of the securities referred to herein is being made in the United States, Australia, Canada or Japan.
Merrill Lynch International and Morgan Stanley & Co. International plc, each of which is authorised in the United Kingdom by the Prudential Regulation Authority (“PRA”) and regulated by the Financial Conduct Authority and the PRA, First Abu Dhabi Bank PJSC and Abu Dhabi Commercial Bank PJSC, each of which is authorised and regulated in the United Arab Emirates (the “UAE”) by the Central Bank of the UAE and the Securities and Commodities Authority of the UAE (“SCA”), EFG Hermes UAE Limited, which is authorised and regulated by the Dubai Financial Services Authority (“DFSA”) and HSBC Bank Middle East Limited, which is authorized and regulated in the UAE by the Central Bank of the UAE and SCA (for the purposes of conducting licensed activities therein) and lead regulated by the DFSA (together, the “Banks”) are acting exclusively for the Company and no one else in connection with the any offering of Securities, and will not regard any other person (whether or not a recipient of this document) as their respective clients in relation to any offering of Securities and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients, nor for providing advice in relation to any offering of Securities, the contents of these materials or any transaction, matter, or arrangement referred to herein.
In the European Economic Area (the "EEA"), these materials are only addressed to and directed at persons in member states of the EEA who are "qualified investors" within the meaning of Article 2(e) of Regulation (EU) 2017/1129 (as amended) ("Qualified Investors"). In the United Kingdom, these materials are only addressed to and directed at persons who are "qualified investors" within the meaning of Article 2(e) of Regulation (EU) 2017/1129 (as amended), which forms part of UK law by virtue of the European Union (Withdrawal) Act 2018, who are also: (i) persons having professional experience in matters relating to investments who fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order; or (iii) are other persons to whom it may otherwise lawfully be communicated (all such persons referred to in (i), (ii) and (iii) together being "Relevant Persons"). These materials must not be acted or relied on (i) in the United Kingdom, by persons who are not Relevant Persons and (ii) in any member state of the EEA by persons who are not Qualified Investors. Any investment activity to which these materials relates (i) in the United Kingdom is available only to, and may be engaged in only with, Relevant Persons; and (ii) in any member state of the EEA is available only to, and may be engaged only with, Qualified Investors. Exempt offer statement (DIFC): These materials relate to a potential
Exempt Offer which may be made in the Dubai International Financial Centre (the “DIFC”) in accordance with the DFSA Rulebook. It is intended for distribution only to persons of a type specified in those rules. It must not be delivered to, or relied on by, any other person. The DFSA has no responsibility for reviewing or verifying any documents in connection with Exempt Offers. The DFSA has not approved these materials nor taken steps to verify the information set out in it and has no responsibility for it. The Securities may be illiquid and/or subject to restrictions on their resale. Prospective purchasers and subscribers of the Securities referred to herein should conduct their own due diligence on the securities. If you do not understand the contents of these materials, you should consult an authorised financial adviser.
Exempt Offer Statement (ADGM): These materials relate to a potential Exempt Offer which may be made in accordance with the Market Rules of the Abu Dhabi Global Market (“ADGM”) Financial Services Regulatory Authority. These materials are intended for distribution only to persons of a type specified in the Market Rules. They must not be delivered to, or relied on by, any other person. The ADGM Financial Services Regulatory Authority has no responsibility for reviewing or verifying any documents in connection with Exempt Offers. The ADGM Financial Services Regulatory Authority has not approved these materials nor taken steps to verify the information set out in it, and has no responsibility for it. The Securities may be illiquid and/or subject to restrictions on their resale. Prospective purchasers of the Securities should conduct their own due diligence on the Securities. If you do not understand the contents of these materials you should consult an authorised financial advisor.
Notice to Prospective Investors in the Kingdom of Saudi Arabia: These materials may not be distributed in the Kingdom of Saudi Arabia except to such persons as are permitted under the Rules on the Offer of Securities and Continuing Obligations (the "Saudi Regulations") issued by the Board of the Capital Market Authority (the "Capital Market Authority") pursuant to resolution number 3-123-2017, dated 27 December 2017G, based on the Capital Market Law issued by Royal Decree No. M/30 dated 2/6/1424H (as amended by Resolution of the Board of the Capital Market Authority number 1-7-2021 dated 14 January 2021G).
The Capital Market Authority does not make any representation as to the accuracy or completeness of this document, and expressly disclaims any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this document. Prospective purchasers of the Securities should conduct their own due diligence on the accuracy of the information relating to the securities. If you do not understand the contents of these materials, you should consult an authorised financial advisor.
Solely for the purposes of the product governance requirements of Chapter 3 of the FCA Handbook Product Intervention and Product Governance Sourcebook (the “UK Product Governance Requirements”), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any “manufacturer” (for the purposes of the UK Product Governance Requirements) may otherwise have with respect thereto, the Securities to be issued in the offering of Securities have been subject to a product approval process, which has determined that such Securities are: (i) compatible with an end target market of retail investors and investors who meet the criteria of professional clients and eligible counterparties, each defined in paragraph 3 of the FCA Handbook Conduct of Business Sourcebook; and (ii) eligible for distribution through all permitted distribution channels (the “Target Market Assessment”). Notwithstanding the Target Market Assessment, “distributors” should note that: the price of the Securities may decline and investors could lose all or part of their investment; the Securities to be issued in the offering of Securities offer no guaranteed income and no capital protection; and an investment in the Securities to be issued in the offering of Securities is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to any contractual, legal or regulatory selling restrictions in relation to the Offering. Furthermore, it is noted that, notwithstanding the Target Market Assessment, the underwriters will only procure investors who meet the criteria of professional clients and eligible counterparties.
For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of Chapter 9A or 10A respectively of the FCA Handbook Conduct of Business Sourcebook; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the Securities.
Each distributor is responsible for undertaking its own target market assessment in respect of the Securities and determining appropriate distribution channels.
These materials may include forward-looking statements, which are based on current expectations and projections about future events. These statements may include, without limitation, any statements preceded by, followed by or including words such as "target", "believe", "expect", "aim", "intend", "may", "anticipate", "estimate", "plan", "project", "will", "can have", "likely", "should", "would", "could" and any other words and terms of similar meaning or the negative thereof. These forward-looking statements are subject to risks, uncertainties and assumptions about the Company and its subsidiaries and its investments, including, among other things, the development of its business, trends in its operating environment, and future capital expenditures and acquisitions. The forward-looking statements in these materials speak only as at the date of these materials. These statements reflect the beliefs of the directors of the Company (including based on their expectations arising from pursuit of the Company’s strategy) as well as assumptions made by the directors of the Company and information currently available to the Company.
Further, certain forward-looking statements are based upon assumptions of future events which may not prove to be accurate and none of the Company, the Banks nor any member of the Group, nor any of such person's affiliates or their respective directors, officers, employees, agents and/or advisors, nor any other person(s) accepts any responsibility for the accuracy or fairness of the opinions expressed in these materials or the underlying assumptions and expressly disclaim any obligation or undertaking to update, review or revise any forward looking statement contained in these materials whether as a result of new information, future developments or otherwise. Actual events or conditions are unlikely to be consistent with, and may differ significantly from, those assumed. In light of these risks, uncertainties and assumptions, the events in the forward-looking statements may not occur. No representation or warranty is made that any forward-looking statement will come to pass. No one undertakes to update, supplement, amend or revise any forward-looking statements. You are therefore cautioned not to place any undue reliance on forward-looking statements.
Any subscription or purchase of Securities in the potential offering should be made solely on the basis of information contained in the international offering memorandum (“IOM”) which may be issued by the Company in connection with the offering. The information in these materials is subject to change. Before subscribing for or purchasing any Securities, persons viewing these materials should ensure that they fully understand and accept the risks which will be set out in the IOM, if published. No reliance may be placed for any purpose on the information contained in these materials or its accuracy or completeness. These materials do not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer to acquire, whether by subscription or purchase, any securities, nor shall it (or any part of it), or the fact of its distribution, form the basis of, or be relied on in connection with, or act as any inducement to enter into, any contract or commitment whatsoever.
The Company may decide not to go ahead with the potential offering and there is therefore no guarantee that an IOM will be published, the offering will be made or listing on the Abu Dhabi Securities Exchange will occur. Potential investors should not base their financial decision on these materials. Acquiring investments to which these materials relate may expose an investor to a significant risk of losing all of the amount invested. Persons considering making investments should consult an authorised person specialising in advising on such investments. These materials do not constitute a recommendation concerning the potential offering. The value of Securities can decrease as well as increase. Potential investors should consult a professional advisor as to the suitability of the potential offering for the person concerned.
Nothing contained herein constitutes or should be construed as (i) investment, tax, financial, accounting or legal advice; (ii) a representation that any investment or strategy is suitable or appropriate to your individual circumstances; or (iii) a personal recommendation to you.
None of the Banks nor any of their respective affiliates and/or any of their or their affiliates' directors, officers, employees, advisers and/or agents accepts any responsibility or liability whatsoever for, or makes any representation or warranty, express or implied, as to, the truth, accuracy or completeness of the information in these materials (or whether any information has been omitted from the announcement) and/or any other information relating to the Company, its subsidiaries or its associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available, or for any loss howsoever arising from any use of the announcement or its contents or otherwise arising in connection therewith.
In connection with the withdrawal of the United Kingdom from the European Union, the Banks may, at their discretion, undertake their obligations in connection with the offering of Securities by any of their affiliates based in the EEA.
In connection with the potential offering of Securities, each of the Banks and any of their respective affiliates may take up a portion of the Securities in the offering as a principal position and in that capacity may retain, purchase, sell, offer to sell or otherwise deal for their own accounts in such securities and any other securities of the Company or related investments in connection with the offering or otherwise. Accordingly, references in the IOM, once published, to the Securities being issued, offered, subscribed, acquired, placed or otherwise dealt with should be read as including any issue, offer, subscription, acquisition, dealing or placing by the Banks and any of their affiliates acting in such capacity. In addition, certain of the Banks or their respective affiliates may enter into financing arrangements (including swaps, warrants or contracts for differences) with investors in connection with which such Banks (or their respective affiliates) may from time to time acquire, hold or dispose of Securities. None of the Banks nor any of their respective affiliates intends to disclose the extent of any such investment or transaction otherwise than in accordance with any legal or regulatory obligation to do so.