With the start of trading in its shares, Space 42 will become one of the largest space companies listed on financial markets in the world thanks to its leadership in the field of space technologies and geospatial solutions, which constitutes a qualitative shift in the space technology and artificial intelligence sector in the Emirates and the region, according to a report by the Emirates News Agency. “Wham.”
It consists of “Space 42“From two business units: Yahsat for space services, Bayanat for Smart Solutions, which will focus on primary satellite operations for fixed and mobile solutions, while the Bayanat for Smart Solutions unit combines geospatial data collection and processing by employing artificial intelligence to make decisions and enhance… Situational awareness, improving operational efficiency.
The list of major shareholders in Space 42 includes:G42“, “Mubadala” and “International Holding”.
Space 42 will have a strong financial position, advanced technological capabilities supported by artificial intelligence, and a diverse product portfolio, in addition to providing a platform for transformative technologies that provide services and solutions for the space sector.
It is expected that the new company will also benefit from achieving integration between the operations of the two merging parties and economies of scale, which will contribute to improving revenues and enhance its opportunities to achieve further growth and innovation.
In addition, the Abu Dhabi Securities Exchange announced that changing the name of Bayanat Company to “Space 42” will be effective from the first of next October, while today will be the last day of trading in Yahsat shares, as it will be delisted from the market.
The reference price for trading Space 42 shares in the trading session tomorrow, Tuesday, will be the closing price of Bayanat shares today, as this price will be subject to the price change limits applicable to the market at a rate of 15 percent increase and 10 percent decrease.
The new shares of Space 42, which belong to Yahsat shareholders, will be available in shareholders’ accounts on Tuesday, October 1. Note that if Yahsat shares are in the investor’s account with the brokerage company/custodian, the new shares will be available in The same account is with the brokerage company/custodian. However, if the shares are present in the investor’s deposit account, they will also be available in the deposit account.
