Abu Dhabi's G42 is offering 2% of its shareholding in its subsidiary, Presight AI, to institutional investors via an accelerated book build (ABB). This will reduce G42's stake in the big data analytics company from 70.5% to 68.5%.

The ABB would help raise slightly more than $100 million.

First Abu Dhabi Bank and Jefferies are acting as Joint Global Coordinators and Joint Bookrunners, with International Securities as Joint Bookrunner.

The stake sale, which will be open to investors in several countries, is expected to boost Presight's market position, as well as broaden and institutionalise the company's investor base.

The transaction also seeks to increase free float and improve liquidity, as Presight prepares for inclusion in the FTSE Emerging Market Index. Following the offering, G42 will retain around 68.5% ownership in Presight and has committed to a 180-day restriction on selling additional shares.

G42 is the sole seller in this transaction, with no other shareholders participating. The offering will commence immediately with final terms expected by September 4th, 2025, and settlement expected around September 10th, 2025. All proceeds will go to G42, with no impact on Presight's operations or other shareholders.

Presight AI raised $496 million in its 2023 Abu Dhabi IPO.

Last year, ADNOC, G42, and Presight AI restructured the shareholding of AIQ, an Abu Dhabi-based artificial intelligence company originally established as a joint venture between ADNOC and G42. Under the new agreement, Presight acquired a 51% stake in AIQ, while ADNOC retained 49%. As part of the transaction, ADNOC received a 4% stake in Presight in exchange for 11% of its shareholding in AIQ.

(Editing by Seban Scaria seban.scaria@lseg.com)