Emirati "G42" offers 2% of its share in "Bressate"

G42 (G42), the main arm of artificial intelligence in Abu Dhabi, is looking for a share of about $ 100 million in Pressight Ai, in a move added to the increasing secondary sales range in the Emirate. “G42” will offer about 2% of the shares of the data analysis Company to institutional investors through the process of setting up an accelerated order record, according to a statement issued by the company. After completing the agreement on Thursday, the company will retain 68.5% of its ownership in “Bressate”. According to the terms of the agreement that Bloomberg saw, the order record is completely complete. The stock closed the Wednesday session at 3.47 Dirhams ($ 0.94), since the beginning of the year higher by more than 67%. The statement indicated that the sale would increase the percentage of free trading shares for “Brissit”, increasing the chances of incorporating it within broader indicators, such as the “Fuzi Emering Markets Index”. “Abu Dhabi First Bank” and “Jefferies” are in charge of the joint world coordinators, while “International Securities” as the director of the joint subscriber record. Secondary suggestions in the Middle East. This agreement is a new group of secondary presentation market in the Middle East, which has become one of the most active world markets in the field of initial proposals. In the UAE, the results of secondary sales sales exceeded $ 3.7 billion this year, which is better than the returns of primary public proposals. The ‘Bressate’ recorded an organic growth of 33.5% in revenue during the first half of the year, after receiving new local contracts. The company raised $ 496 million during its inclusion in 2023, in an agreement witnessed a major request and the requests exceeded the size of the subscription. According to Bloomberg News, the Abu Dhabi -based Mubadala investment business also intends to sell part of its share in the telecommunications company “Du”.