Abu Dhabi’s G42 company Bayanat plans to list a 22% stake on ADX – The National

Abu Dhabi’s G42 company Bayanat plans to list a 22% stake on ADX – The National

Bayanat, a geospatial data products and services provider owned by Abu Dhabi-based artificial intelligence and cloud computing company G42, plans to sell a 22.2 per cent stake, or 571.4 million shares, through an initial public offering as an increasing number of Gulf companies tap the capital markets for growth.

The subscription period for the listing will open on October 21 and close on October 25. The company intends to list on the first market of the Abu Dhabi Securities Exchange on October 31 it said in a statement on Sunday.

It will become the first technology business to list in the GCC and the only listed geospatial intelligence company in the Middle East and North Africa region.