Presight AI announces start of subscription period for IPO
Presight AI Holding, a G42 company, today announced the opening of the subscription period for its Initial Public Offering (IPO) on the Abu Dhabi Securities Exchange (ADX) First Market.
The Company has received approval confirming that the Offering remains in line with Sharia-compliant parameters.
The opening of the subscription period for the Offering commences on 13th March 2023 and will close on 17th March 2023. The shares are offered at a fixed price of AED1.34. The Sharia-compliant shares are expected to be listed on ADX on 27th March 2023.
On 3rd March 2023, the Securities and Commodities Authority (SCA) approved the Company’s application for an IPO of 1,359,680,000 shares (Offer Shares) representing 24.24% of the Company’s share capital as of the listing date. Following the Offering, Group 42 Holding Ltd will continue to be the majority shareholder.
The Offering is available to both Retail and Professional Investors with the completion of the subscription on 17th March 2023 and the expected listing of the shares on the ADX on 27th March 2023, subject to market conditions and obtaining the relevant regulatory approvals in the UAE.
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