– Presight AI Holding PLC confirms its intention to offer 1,359,680,000 shares representing 24.24% of its share capital as at the listing date

– The subscription period for the offering starts on 13 March 2023 and will close on 17 March 2023 for both Retail and Professional Investors

– The listing of the Company’s shares and trading on the ADX is anticipated on 27 March 2023

Abu Dhabi, 13 March 2023: Presight AI Holding PLC (“Presight” or the “Company”), a G42 company, and the region’s leader in big data analytics powered by artificial intelligence (“AI ”), today announced the opening of the subscription period for its Initial Public Offering (“IPO” or the “Offering”) on the Abu Dhabi Securities Exchange (“ADX”) First Market. The Company has received approval confirming that the Offering remains in line with Sharia-compliant parameters.

Details of the Offering

The opening of the subscription period for the Offering commences today, 13 March 2023 and will close on 17 March 2023. The shares are offered at a fixed price of AED 1.34. The Sharia-compliant shares are expected to be listed on ADX on 27 March 2023.

On 3 March 2023, the Securities and Commodities Authority (the “SCA”) approved the Company’s application for an IPO of 1,359,680,000 shares (“Offer Shares”) representing 24.24% of the Company’s share capital as at the listing date. Following the Offering, Group 42 Holding Ltd will continue to be the majority shareholder.

Financial Performance and Outlook

Presight has demonstrated a strong track record of historical performance that is underpinned by solid growth in recent years, a robust balance sheet with headroom to capture forecasted growth, and a strong organic pipeline driven by dependable and predictable revenues thanks to long-term committed and recurring contracts.

Presight’s revenue growth has been strong at USD 423 million for the financial year ending 31 December 2022, up 16% on the financial year ending 31 December 2021. This revenue growth has resulted from a material growth in Presight’s customer order book comprising long-term recurring customer contracts.

Presight has demonstrated substantial growth in profitability, recording gross profit for the financial year ending 31 December 2022 of USD 266 million, up 92% on the financial year ending 31 December 2021, and net profit of USD 148 million for the financial year ending 31 December 2022, an increase of 55% on the financial year ending 31 December 2021. Gross and net profit margins are solid, at 63% and 35% respectively for the financial year ending 31 December 2022.

Subscription Process

The Offering is available to both Retail and Professional Investors with the completion of the subscription on 17 March 2023 and expected listing of the shares on the ADX on 27 March 2023, subject to market conditions and obtaining the relevant regulatory approvals in the UAE.

The Prospectus and detailed information about the Company, its IPO, and the subscription process can be found at www.presight.ai/ipo/

About Presight AI

Presight AI, a G42 company, is the region’s leading big data analytics company powered by AI. It combines big data, analytics, and AI expertise to serve every sector, of every scale, to create business and positive societal impact. With its world-class computer vision, Artificial Intelligence (“AI”) and omni-analytics platform as its engine, Presight leverages all-source data to support insight-driven decision making that shapes policy and creates safer, healthier, happier, and more sustainable societies. Find out more at presight.ai   

Media Enquiries

Lyndsey McCusker, FGS Global

presight@fgsglobal.com

Lead Manager

Dubai Islamic Bank PJSC

Lead Receiving Bank

First Abu Dhabi Bank PJSC

Lead Placement Agent

International Securities

DISCLAIMER

This announcement does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any shares or any other securities nor shall it (or any part of it) or the fact of its distribution, form the basis of, or be relied on in connection with or act as an inducement to enter into, any contract or commitment whatsoever. Investors should not purchase any shares referred to in this announcement except on the basis of information contained in the prospectus which is published by Presight AI Holding PLC. The distribution of this announcement and other information in connection herewith may be restricted by law in certain jurisdictions and persons into whose possession this announcement, any document or other information referred to herein comes should inform themselves about, and observe, any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

In particular, this announcement does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities to any person in the United States of America, Australia, Canada, or Japan, or in any jurisdiction to whom or in which such offer or solicitation is unlawful. The securities referred to herein may not be offered or sold in the United States of America and the offer and sale of the securities referred to herein has not been and will not be registered under the U.S. Securities Act of 1933 or under the applicable securities laws of the United States of America, Australia, Canada or Japan. There will be no public offer of the securities in any jurisdiction other than the United Arab Emirates. Copies of this announcement are not being, and should not be, distributed in or sent into the United States, Australia, Canada or Japan.