UAE: Yahsat listing raises $760m

Shares in Al-Yah Satellite Communications Company (Yahsat) made a strong debut on the Abu Dhabi Securities Exchange (ADX) on 14 July, when its share price rose by 13% in early trading before settling back. Abu Dhabi’s Mubadala Investment Company raised Dh2.7bn ($731m) in the initial public offering (IPO) of the satellite operator, making it the second largest listing on the bourse after Adnoc Distribution’s $851m IPO in 2017.