Bayanat AI is planning to list 22 percent of its share capital on the Abu Dhabi Securities Exchange (ADX) on October 31.
About 77 percent shareholding will be held by Group 42 Holding Ltd. on the listing date, provided that the offering shares are fully subscribed.
“Throughout its 45-year heritage, and since becoming a member of the G42 ecosystem in 2020, Bayanat has been leveraging artificial intelligence and its developmental capabilities to offer differentiated geospatial AI solutions, underpinned by visionary leadership, a capable team of innovators, and a robust customer pipeline,” Tareq Al Hosani, Chairman of the Board of Directors of the Company, said. “We are confident that the Company is now strategically positioned to enter a new phase of growth with its planned listing on ADX as we look to deliver sustained shareholder value.”