The merger is expected to take place in the second half of 2024, until then Bayanat and Yahsat will continue to operate independently.
Abu Dhabi Securities Exchange
The UAE telco acquired a 9.8% stake in Vodafone for $4.4bn in May before increasing its shareholding to 11% last month.
The deal with the Abu Dhabi Fund for Development will increase the UAE operator’s ownership in Maroc Telecom to 53%.
Mubadala retains a c.60% shareholding in the company and is fully aligned with Yahsat.
The final offer price for the offering has been set at Dh2.75 ($0.27) per share.
This will be the first IPO of a company on the Abu Dhabi bourse since Abu Dhabi National Oil Co Distribution was listed in 2017.
The offering is expected to take place in Q3 of 2021 and will be open to retail and qualified institutional investors.
