UAE – Presight AI Holding, a G42 firm, has set the fixed price for its initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX) at AED 1.34.
The subscription period for the IPO takes place during 13-17 March 2023, according to a press release.
Meanwhile, the Sharia-compliant shares are forecast to be listed on ADX on 27 March.
The securities and commodities authority (SCA) approved, on 3 March, Presight’s request to list 1.35 billion shares, accounting for 24.24% of its issued share capital.
It is worth noting that Group 42 Holding Ltd will maintain its position as the majority shareholder following the offering transaction.
In 2022, Presight recorded a 55% year-on-year (YoY) hike in net profit to $148 million. Meanwhile, the revenues increased by 16% to $423 million.
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