The Abu Dhabi Securities Exchange (ADX) will witness the listing of “Space 42” shares, following the successful merger between Bayanat and Yahsat.
With the commencement of trading, Space 42 will become one of the largest space technology companies listed on global stock markets. Its leadership in space technologies and geospatial solutions marks a major milestone in the UAE’s space and artificial intelligence (AI) sectors, according to the Emirates News Agency (WAM).
About Space 42
Space 42 is comprised of two business units:
- Yahsat: Specializing in fixed and mobile satellite services.
- Bayanat: Focuses on integrating geospatial data collection and processing with AI, aiming to enhance decision-making, situational awareness, and operational efficiency.
The company’s key shareholders include G42, Mubadala, and International Holding Company (IHC). Space 42 will benefit from strong financial backing, advanced AI-driven technologies, and a diversified portfolio of products. It will serve as a transformative platform providing cutting-edge space sector solutions.
Financial Outlook and Growth Potential
Space 42 is expected to achieve significant growth by leveraging synergies from the merger, optimizing operations, and enhancing revenues. This strategic integration will help the company foster innovation and unlock new growth opportunities.
The ADX has announced that Bayanat will officially rebrand to Space 42 on October 1. Today marks the last trading session for Yahsat shares, which will be delisted from the market.
Trading Details
The reference price for Space 42 shares in tomorrow’s trading session will be based on today’s closing price of Bayanat shares. Price limits will be set at 15% upward and 10% downward.
New Space 42 shares, allocated to Yahsat shareholders, will be available in their accounts starting October 1. If Yahsat shares are held through a brokerage firm or custodian, the new shares will be available in the same account. Similarly, shares held in a direct investor deposit account will also reflect the new Space 42 holdings.
