Mansour Ibrahim Al Mansouri, Chairman of the Board of Directors of Presight AI Holding PLC (Presight), stated that Presight's IPO is the second initial public offering from G42's portfolio, after the listing of Bayanat last October, which became the first tech company to be listed on the Abu Dhabi market.
In a statement to the Emirates News Agency (WAM), Al Mansouri said, “The listing of the companies belonging to the G42 group in the Abu Dhabi market constitutes the latest stage in the march of our companies, allowing them to participate in driving the economic growth of the emirate, in addition to enhancing their ability to attract more investments, and helps us achieve our goals and secure sustainable value for shareholders in the long term.”
Asked about Presight's plans for expansion, Al Mansouri revealed that the company has a promising plan for regional and international expansion and the provision of various solutions to customers around the world in big data and artificial intelligence, adding that the company, since its establishment in 2020, has succeeded in combining the expertise of big data, analytics and AI to enable its customers to make informed decisions, whether in the UAE or globally.
He underscored that the overprescription seen in the Presight IPO reflects investor confidence in the company and its growth prospects, noting that this listing provides an important strategic opportunity for the company to achieve higher levels of growth and continue to make a positive impact through comprehensive AI-powered analytics.
Speaking at the bell ringing ceremony at the Abu Dhabi Securities Exchange (ADX), a G42 official said that, after the great success of the listing of Bayanat and Presight, the group is looking into the listing of other companies, which will be announced during the coming period.
The Presight IPO raised a total of AED 1.822 billion in proceeds, after seeing significant demand from ordinary and professional investors.