Mubadala to shift investments to technology, disruptive industries - CEO

Mubadala will reduce its investments in energy and commodity sectors

  
A view of Mubadala Building in Abu Dhabi. Image used for illustrative purpose

A view of Mubadala Building in Abu Dhabi. Image used for illustrative purpose

Mubadala/ Handout via Zawya

UAE - Mubadala Investment Company will reduce its investments in energy and commodity sectors to focus on technology, healthcare, and disruptive industries, the Managing Director and Group CEO of Mubadala, Khaldoon Khalifa Al Mubarak, told Financial Times.

Al Mubarak said that the company's $232 billion fund’s strategy shift in investments will include selling its assets in commodity sectors through market listings or private placements, including an initial public offering (IPO) for Emirates Global Aluminium.

Hence, the company is planning for an IPO for Yahsat, a satellite company, while considering whether to list GlobalFoundries, the US-based chipmaker.

The Group CEO of Mubadala added that the company seeks to increase its investments in China and India to double its total assets under management by 2030.

Source: Mubasher

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