DUBAI, June 2 (Reuters) - Abu Dhabi state investor Mubadala has hired banks for the planned initial public offering of Al Yah Satellite Communications Company (Yahsat) which could raise over $500 million, three sources said.
Bank of America (BAC.N), First Abu Dhabi Bank (FAB.AD) and Morgan Stanley (MS.N) will act as global coordinators for the deal, while EFG Hermes (HRHO.CA), HSBC (HSBA.L) and Abu Dhabi Commercial Bank (ADCB.AD) will have bookrunner roles, they said.
Yahsat has five satellites that serve more than 150 countries, information on its website shows. It also owns satellite phone operator Thuraya.
Yahsat is among the three portfolio companies that Mubadala is pushing to go public this year, the sources said.
It is close to making a decision on the listing of Emirates Global Aluminium, which is owned by Mubadala and Investment Corp of Dubai.
It is also looking at a potential listing of Santa Clara-based semiconductor producer Globalfoundries later in the year, two sources familiar with move said. read more
Mubadala, which manages over $240 billion in assets, declined to comment and the banks did not immediately respond to Reuters requests for comments.
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