G42 intends to sell $100 million stake in Presight
Move to boost ADX follow-on share sales; G42 to retain 68.5% of shares
#UAE #investment - Abu Dhabi artificial intelligence holding group G42 is selling approximately 2 per cent of its stake in big data analytics and AI firm Presight AI Holding (ADX:PRESIGHT) for around $100 million, via an accelerated offering to institutional investors. G42 will retain 68.5% ownership following the transaction, which closes on Thursday. The group aims to broaden the company's international investor base whilst increasing free float. According to Bloomberg, the deal adds to Middle East secondary share sales totalling $3.7 billion this year, exceeding regional IPO proceeds.
SO WHAT? - Listing in 2023, Presight is already an ADX success story and the only AI company registered on the exchange. The Abu Dhabi company’s share price has surged 67% year-to-date following strong financial performance, and its H1 2025 results recorded AED 1 billion in income ($290m). According to a G42 statement, the share transaction aims to broaden and institutionalise Presight's international investor base as well as increase free float and improve liquidity. The share sale could also support Presight’s bid to be included in the FTSE Emerging Index, which could in turn attract broader institutional investment.
Here are some key points about the planned G42 share sale:
G42 is offering approximately 2% of its Presight AI stake - worth $100 million - to qualified institutional investors through an accelerated bookbuild, reducing its holding from 70.5% to 68.5% whilst retaining majority control.
Presight's shares closed at AED 3.47 ($0.94) on Wednesday, representing a 67% year-to-date gain, with the accelerated offering books already fully covered according to deal terms repotted by Bloomberg.
The transaction aims to broaden Presight's international investor base and increase free float to improve chances of inclusion in the FTSE Emerging Market Index, enhancing global institutional accessibility.
G42 Group CFO Ricky Thirion described Presight as "a critical pillar of the G42 ecosystem and cornerstone of our Intelligence Grid offering" with strong performance reflecting consistent growth capabilities.
Presight reported 33.5% organic revenue growth in the first half of 2025 after securing new domestic contracts, building on its successful $496 million IPO in 2023 that was heavily oversubscribed.
First Abu Dhabi Bank and Jefferies serve as joint global coordinators and bookrunners, with International Securities as joint bookrunner, targeting completion by September 4th with settlement around September 10th.
The deal contributes to Middle East secondary share sales reaching $3.7 billion in 2025, exceeding regional IPO proceeds and demonstrating growing appetite for follow-on offerings in the UAE market.
G42 has committed to a 180-day restriction on selling additional Presight shares following the transaction, with all proceeds flowing to G42 and no impact on Presight's operations or other shareholders.
ZOOM OUT - Presight recently reported record first-half revenue of AED 1.09 billion ($290 million), representing 80% year-on-year growth as international expansion accelerated alongside domestic market strength. The ADX-listed AI company achieved AED 245.5 million ($66.84m) EBITDA with international revenue reaching 26.8% of quarterly totals, supported by strategic partnerships in Kazakhstan, Malaysia and Uganda. Presight's order backlog tripled to AED 3.7 billion ($1n) whilst the company upgraded its medium-term financial outlook, targeting 21-27% compound annual revenue growth through 2027.
[Written and edited with the assistance of AI]
Read more about Presight financials:
Presight record H1 revenue exceeds AED 1 billion (Middle East AI News)
Presight posts 115% revenue surge in blockbuster quarter (Middle East AI News)
Presight FY 2024 revenue grows 24% (Middle East AI News)