- 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: 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/.
Lyndsey McCusker, FGS Global