Dubai, UAE — Abu Dhabi Securities Exchange announced Thursday the shares of Presight AI Holding will list on exchange under the trading symbol (PRESIGHT) from 27 March 2023 in the First market – Second Category.
Presight AI Holding, a data analytics company owned by G42, received AED1.7 billion ($496 million) in its initial public offering (IPO), which attracted bids worth AED 94.9 billion ($25.8 billion).
The offer was oversubscribed 136 times in aggregate, excluding the commitment from the company’s main investor, International Holding Company.
Presight offered 1.35 billion shares, equivalent to 24.24 per cent of the company’s paid-up capital. The company is expected to begin trading on the Abu Dhabi Exchange on Mar 27, 2023. Presight is the second G42 to list, after Bayanat, a geospatial and data analytics firm, raised $171 million in an IPO in October 2022.
Presight reported a 35 percent rise in net profit for 2022 to reach $147 million, while its revenue increased by 63 percent to reach $265 million. The company’s listing comes days after ADNOC Gas’s trading debut on the ADX after raising $2.5bn in the world’s biggest flotation this year.
