Mon, 2023-03-06 14:26
RIYADH: Presight AI, a data analytics firm owned by Abu Dhabi’s G42 Group, plans to raise 1.82 billion dirhams ($495 million) from an initial public offering and subsequently list its shares on the Abu Dhabi Securities Exchange’s first market.
On March 3, the UAE Securities and Commodities Authority approved the company’s IPO application.
The firm plans to sell 1.36 billion shares at 1.34 dirhams per share, according to an advertisement published in the local media. Following the IPO, the share capital of Presight AI will be 560.86 million dirhams.