The Abu Dhabi Securities Exchange announced the listing of the shares of “Presite” AE Holding plc, a subsidiary of the “G42” group, for trading as of next Monday.
The market indicated in a circular issued today, Thursday, that “Briskite”, which specializes in the field of big data analytics supported by artificial intelligence, will be traded within the first market – the second category, calling on all market departments and authorized brokers to implement the decision, each in its field of competence.
The offering of “Briskite” witnessed great demand, with the total demand for the public offering reaching 94.9 billion dirhams, while the initial public offering was covered by 136 times for all segments combined, with the exception of the main investor in the company represented by the International Holding Company, according to “WAM”.
In an interview with Al Arabiya, Adel Al Sharji, Chief Operating Officer of Presite, said that the company’s plan is ambitious and the desired goals of offering its shares in the Abu Dhabi market include international expansion and support for research and development.
Abu Dhabi-based artificial intelligence group G42 plans to conduct an initial public offering of 1.82 billion dirhams ($495.6 million) for its big data analytics unit PreSite and list its shares on the Abu Dhabi Stock Exchange.
Al-Sharji added that Presite is a company belonging to the “G42 Group for Artificial Intelligence” in Abu Dhabi, and it determined the most appropriate price for the offering after consulting with expert houses.