Hong Kong-listed China Trends has prepared a convertible bond offering with a view to investing in Dubai-based Thuraya through recently acquired subsidiary Skynet Satellite Data, which has exclusive rights to sell the Thuraya Aero satellite data unit hardware in China. However, any issuance is subject to regulatory approvals, including ITAR authorisations, and shareholder approvals that could prevent it from buying into Thuraya’s equity structure.
Yahsat CEO Masood Mahmood has been quoted saying the Abu Dhabi-based operator is planning to follow-up next year’s launch of Al Yah 3 by ordering four more satellites. The new satellites will be used to provide global inflight connectivity services, but Mahmood did not comment on whether the new system was being developed as part of its MoU with Panasonic Avionics.
Swiss newspace startup ELSE is close to securing seed funding for its 64-nano satellite M2M constellation AstroCast that will cost US$50m to build and launch. Despite its operations being based in Lausanne, Switzerland, both its CEO and CFO are based in Portland, Oregon as the company looks to tap VC investors on the US Pacific Coast for the risk capital that is in short supply in Europe.