Abu Dhabi's Yahsat has held meeting with banks over IPO -sources

Yahsat, backed by Abu Dhabi's Mubadala, has five satellites that serve more than 150 countries

  
Image used for illustrative purpose. Mubadala satellite , Yahsat

Image used for illustrative purpose. Mubadala satellite , Yahsat

Mubadala

DUBAI- Al Yah Satellite Communications Company (Yahsat) has held the kick-off meeting with banks for its planned initial public offering, two sources familiar with the matter told Reuters.

Yahsat, backed by Abu Dhabi's Mubadala, has five satellites that serve more than 150 countries, information on its website shows.

Mubadala said in an email it does not comment on speculation and that in line with potential market opportunities, the fund may "choose to monetise certain assets at the right time".

Yahsat did not immediately respond to a request for comment.

(Reporting by Hadeel Al Sayegh and Davide Barbuscia) ((Hadeel.AlSayegh@thomsonreuters.com; +971566883310;))

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