Presight AI Holding PLC, the region’s leader in big data analytics powered by artificial intelligence (AI), on Monday listed and commenced the trading of its shares on the First Market of the Abu Dhabi Securities Exchange (ADX).
It will trade under the symbol “PRESIGHT” and 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 (IHC).
The IPO, which raised proceeds of approximately $496 million, 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.
ADX Chairman Hisham Khalid Malak, while congratulating Presight on the successful completion of its IPO, welcomed its listing on the bourse.
Robust Regulatory Environment
“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,” he added.
Presight AI Chairman Mansoor Al Mansoori said that they were delighted to have completed the IPO, and to begin the company’s next chapter as only the second technology firm to be listed on the ADX, reinforcing our position as a pioneer in the industry.
Since its inception in 2020, the company has 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,” Al Mansoori added.
The Sharia Board of Dubai Islamic Bank PJSC, Lead Manager for the IPO, has issued a pronouncement confirming that Presight’s shares followed Sharia principles.
The Company’s proprietary Transformative Analytics Quotient (TAQ) platform has enabled Presight to deliver unmatched digital transformation for its customers across the globe.
TAQ integrates all-source data into adaptive AI algorithms to deliver actionable insights across the sectors in which Presight operates. The platform enables clients to understand historical performance effectively, forecast more accurately, and make timely decisions in the best interests of customers and the public at large.