Tue 28-03-2023 01:07 AM
ABU DHABI, 27th March, 2023 (WAM) — Abu Dhabi’s G42-owned Presight AI surged 143 % in its trading debut on Abu Dhabi Security Exchange Monday.
The shares jumped as much as 176% to AED3.7 at open on Monday from an offer price of AED1.34 a share, before closing 143% higher at AED3.3.
The data analytics firm’s Initial Public Offering (IPO) received total gross demand amounting to AED94.9 billion (US$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).
This year, Abu Dhabi stands at the forefront of the Middle East’s IPO market, with the world’s largest listing and a pipeline of more businesses reportedly set to be listed.
Hatem Mohamed