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

The company announced that the management is completing all necessary procedures

Staff Writer, Mubasher

June 22, 2022

PHOTO

Abu Dhabi - 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.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.