BUZZ-UAE's Space42 hits one-year high after $1 billion venture with Viasat

Shares of UAE-based satellite operator Space42 SPACE42.AD surged 10.1% to a more-than-one-year high of AED 2.19.

The stock was headed for its biggest single-day gain since 4 July 2025, leading gains on Abu Dhabi's benchmark index .FTFADGI and lifting the index 0.4%.

Space42 and California-based Viasat VSAT.O agreed to establish a direct-to-device platform, Equatys, and commit up to $1 billion to the venture.

Including the session's gain, Space42 was up about 40% so far this year.