Abu Dhabi, UAE–Presight AI stock surged 143 % in its trading debut on Abu Dhabi Security Exchange Monday.
The shares jumped as much as 176% to AED3.7 at open on Monday from an offer price of AED1.34 a share, before closing 143% higher at AED3.3.
The data analytics firm’s Initial Public Offering (IPO) received total gross demand amounting to AED94.9 billion (US$25.8 billion) and was 136 times oversubscribed in aggregate, excluding the commitment from the Company’s cornerstone investor, International Holding Company PJSC (ADX:IHC).
This year, Abu Dhabi stands at the forefront of the Middle East’s IPO market, with the world’s largest listing and a pipeline of more businesses reportedly set to be listed.
The initial public offering of the Company (IPO) was oversubscribed by 136 times in aggregate, excluding the commitment from the Company’s cornerstone investor, International Holding Company (IHC).
Also read: Presight to list on 27 Mar
Presight’s listing now provides investors with an opportunity to share in the region’s leading international big data analytics company powered by AI, unlocking positive societal impact.
The company’s solutions are deployed across three core sectors with significant potential for impact and market growth in public services, finance, and sports.
Presight also continues to accelerate into other priority sectors at pace, channeling the use of advanced data analytics to predict environmental impact, enable efficient infrastructure use, and transform educational outcomes.
Listing and trading of Presight’s shares on the ADX commenced at 10:00 on 27th March 2023 under the symbol “PRESIGHT” and ISIN “AEE01200P230”. The Sharia Board of Dubai Islamic Bank PJSC, Lead Manager for the IPO, has issued a pronouncement confirming that, in its view, Presight’s shares are compliant with Sharia principles.
