Abu Dhabi-based Presight AI, which is owned by G42, had an impressive trading debut on the Abu Dhabi Security Exchange on Monday.
Presight AI shares opened at AED 3.7 on Monday, which was a 176% increase from their offer price of AED 1.34 per share. The shares later closed at AED 3.3, representing a 143% surge, according to WAM.
The company’s IPO garnered a total gross demand of AED 94.9B ($25.8B) and was oversubscribed 136 times in aggregate, excluding the commitment of the company’s cornerstone investor, International Holding Company PJSC (ADX:IHC).
Abu Dhabi is leading the IPO market in the Middle East this year, with the world’s largest listing and reportedly more businesses to be listed in the future.
