Presight AI, a G42 company, to launch IPO

Abu Dhabi-based G24 company Presight Al Holding has announced its plans to offer 1.35 billion shares through IPO (initial public offering).

After receiving approval from the Securities and Commodities Authority on March 3, the data analytics firm, powered by artificial intelligence, said it plans to list on the Abu Dhabi Securities Exchange's first market.

The offer shares represent 24.24 per cent of the Company’s share capital as at the Listing date.

The offer period is scheduled to commence on March  13 and end on March 17.

Presight shares are expected to start trading on the ADX first market on or around March 27.

More from Business

  • US considers breakup of Google in landmark search case

    The US said it may ask a judge to force Alphabet's Google to divest parts of its business, such as its Chrome browser and Android operating system, that it says are used to maintain an illegal monopoly in online search.

  • UAE inaugurates first Global Rail Conference

    The first edition of the Global Rail Transport Infrastructure Exhibition & Conference (Global Rail) 2024 was launched in Abu Dhabi on Tuesday and set to continue until Thursday. The event, hosted by Etihad Rail, was inaugurated by several UAE officials and industry leaders. 

  • Boeing withdraws pay offer to striking workers

    Boeing has withdrawn its pay offer to around 33,000 US factory workers and no further negotiations were planned with their union representatives, as a financially damaging strike nears its fourth week.

  • UAE Cabinet approves AED 71.5 billion federal budget

    The UAE Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and the Ruler of Dubai, has approved the Union General Budget Plan for the fiscal year 2025.

  • Emirates cancels Iran and Iraq flights until October 16

    Emirates has cancelled flights to Iran and Iraq until October 16, the airline announced on Tuesday evening. Earlier in the week, flights to Baghdad and Basra in Iraq had resumed before the latest update.