June 22, 2024

Presight AI gets listed on ADX and raises USD496Mn from its IPO

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Presight AI Listed on ADX Ceremony

Presight AI Holding PLC (“Presight” or the “Company”), a region’s leader in big data analytics powered by artificial intelligence (“AI”), has listed and commenced the trading of its shares on the First Market of the Abu Dhabi Securities Exchange (“ADX”) recently and will trade under the symbol “PRESIGHT”. 

Industry sources added that the initial public offering of the Company (“IPO”) was oversubscribed by 136 times in aggregate, excluding the commitment from the Company’s cornerstone investor, International Holding Company (ADX:IHC).

Industry sources further added that the IPO, which raised proceeds of approximately USD 496 million (AED 1.822 billion), has witnessed overwhelming demand from both Retail and Professional Investors.

Presight’s listing now provides investors with an opportunity to share in the region’s leading international big data analytics company powered by AI, unlocking positive societal impact. The Company’s solutions are deployed across three core sectors with significant potential for impact and market growth in public services, finance, and sports. Presight also continues to accelerate into other priority sectors at pace, channeling the use of advanced data analytics to predict environmental impact, enable efficient infrastructure use, and transform educational outcomes.

H.E. Hisham Khalid Malak, Chairman of ADX

H.E. Hisham Khalid Malak, Chairman of ADX, stated: “We congratulate Presight on the successful completion of its initial public offering and welcome its listing on the Abu Dhabi Securities Exchange. ADX is proud to be playing a key role in Abu Dhabi’s economic diversification strategy by attracting robust and fast-growing companies to our vibrant capital market. The strong performance of Abu Dhabi-listed securities amid global market volatility and the increasing appeal of our dynamic capital market among international investors reflects the Emirate’s commitment to maintaining a robust regulatory and business environment.”

H.E. Mansoor Al Mansoori, Chairman of Presight

H.E. Mansoor Al Mansoori, Chairman of Presight, stated: “We are delighted to have completed Presight’s IPO, and to begin our next chapter as only the second technology company to be listed on the ADX, reinforcing our position as a pioneer in the industry. Since our inception in 2020, we have created a reputation for combining big data, analytics, and AI expertise to support insight-driven decision-making both in the UAE and on an international level. The extraordinary level of investor demand in our IPO demonstrates their confidence and trust in Presight’s ability to continue the strong growth trajectory. The listing provides an important strategic opportunity for Presight to realize its growth potential and continue to unlock positive societal impact with omni-analytics powered by AI. We are excited to welcome our new shareholders to the Company as we continue to deliver value over the long term.”

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