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Presight AI IPO 136-times oversubscribed

Presight AI saw demand of $more than $25bn in its shares on the Abu Dhabi exchange

by Staff Writer
Abu Dhabi Presight AI IPO
Presight AI IPO was 136-times oversubscribed

Presight AI, a G42 company, and the region’s leader in big data analytics powered by artificial intelligence, announced that its IPO is subscribed in full.

The IPO received total gross demand of AED94.9b ($25.8bn) and was 136 times oversubscribed in aggregate, excluding the commitment from the Presight’s cornerstone investor, International Holding Company.

Thomas Pramotedham, CEO, said: “We are delighted that Presight AI’s IPO has been met with overwhelming interest from both retail and professional investors.

Presight IPO

“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 capitalise 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 March 17 at 12:00pm.

The listing of the AI firm’s shares and trading on the ADX is expected on March 27.

The prospectus and detailed information about the Company and its IPO can be found at the Abu Dhabi firm’s website.

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