– Presight AI Holding PLC, a G42 company, and the region’s leader in big data analytics powered by AI, has received strong demand from investors for its IPO
– AED 94.9 billion (USD 25.8 billion) is the total gross demand for the IPO, implying an oversubscription of 136 times in aggregate, excluding the commitment from the Company’s cornerstone investor
– Trading on the Abu Dhabi Securities Exchange (“ADX”) is expected to commence on 27 March 2023 under the symbol “PRESIGHT” with issuance proceeds of approximately AED 1,822 million (USD 496 million)
Abu Dhabi, 17 March 2023: Presight AI Holding PLC (“Presight” or the “Company”), a G42 company, and the region’s leader in big data analytics powered by artificial intelligence (“AI”), announced that its Initial Public Offering (“IPO”) is subscribed in full. The IPO received total gross demand amounting to AED 94.9 billion (USD 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).
Thomas Pramotedham, CEO of Presight, said: “We are delighted that Presight AI’s IPO has been met with overwhelming interest from both Retail and Professional Investors. The significant oversubscription is a testament to investor confidence in our company’s growth strategy and ability to create value for shareholders. The IPO will help us capitalize on significant potential for market growth as demand for big data analytics powered by AI continues to grow across multiple sectors.”
The subscription period for Retail and Professional Investors ended on 17 March 2023 at 12:00pm. The listing of Presight shares and trading on the ADX is expected on 27 March 2023. The prospectus and detailed information about the Company and its IPO can be found at www.presight.ai/ipo/.
About Presight AI
Presight AI, a G42 company, is the region’s leading big data analytics company powered by AI. It combines big data, analytics, and AI expertise to serve every sector, of every scale, to create business and positive societal impact. With its world-class computer vision, Artificial Intelligence (“AI”) and omni-analytics platform as its engine, Presight leverages all-source data to support insight-driven decision making that shapes policy and creates safer, healthier, happier, and more sustainable societies. Find out more at presight.ai
Lyndsey McCusker, FGS Global
Dubai Islamic Bank PJSC
Lead Receiving Bank
First Abu Dhabi Bank PJSC
Lead Placement Agent