Abu Dhabi: Presight AI, a G42 company focused on data analytics and artificial intelligence, announced that its IPO was 136 times oversubscribed excluding the commitment from the Company’s cornerstone investor, International Holding Company. The IPO received total gross demand amounting to Dh94.9 billion.

“We are delighted that Presight AI’s IPO has been met with overwhelming interest from both Retail and Professional Investors,” said Thomas Pramotedham, CEO of Presight. “The significant oversubscription is a testament to investor confidence in our company’s growth strategy and ability to create value for shareholders.”

“The IPO will help us capitalize on significant potential for market growth as demand for big data analytics powered by AI continues to grow across multiple sectors,” he added.

The subscription period for Retail and Professional Investors ended on March 17. The listing of Presight shares and trading on the ADX is expected on March 27.