Total income reached to Dh5.607 billion compared to Dh4.431 billion, a solid expansion of 26.5 per cent YoY
Presight AI Holding PLC (Presight), 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 Dh94.9 billion and was 136 times oversubscribed in aggregate, excluding the commitment from the Company's cornerstone investor, International Holding Company PJSC.
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 Friday. The listing of Presight shares and trading on the ADX is expected take place on March 27, with issuance proceeds of approximately Dh1.822 billion ($496 million).
.
Total income reached to Dh5.607 billion compared to Dh4.431 billion, a solid expansion of 26.5 per cent YoY
Sheikh Abdullah bin Salem bin Sultan Al Qasimi, Deputy Ruler of Sharjah, presented the awards to the winners in various categories
Move aims to deepen multi-sectoral cooperation
Brands in the UAE and the region have been advised to create the right awareness schemes that they’re deemed neutral
This continuous rise in investment is attributed to an emerging trend of financialisation of savings
The UAE registered trademarks totalling 4,610 in Q1
One of the driving forces behind the growth is the adventurous spirit of millennials and Gen Z
Figure reflects the emirate’s growing appeal as a preferred investment hub for innovative technology companies