ADX lists geospatial intelligence specialist Bayanat AI PLC

ADX lists geospatial intelligence specialist Bayanat AI PLC

Abu Dhabi: Bayanat AI PLC, one of the region’s leading high-growth AI-powered geospatial solutions businesses, has today made its trading debut as the first company to list under the technology sector on the Abu Dhabi Securities Exchange (ADX) after its successful IPO. It is trading under the trading symbol BAYANAT.

Abu Dhabi-based Bayanat’s IPO will support the company’s strategy of investing in cutting-edge R&D and exploring inorganic growth opportunities to reinforce its position as a leading player in geospatial artificial intelligence solutions, smart operations solutions and smart mobility solutions.

With roots stretching back to the creation of the UAE’s Military Survey Department in 1974, Bayanat was established in 2008 as a geographical information systems (GIS) specialist and has since expanded into geospatial and data analytics. After being acquired in 2020 by G42, an Abu Dhabi-based global leader in AI and cloud computing, Bayanat has evolved into an AI-powered geospatial solutions company, bringing game-changing advantages to a growing number of sectors.

Bayanat’s revenue in 2021 was AED 366.7 million, up from AED 247.8 million in 2020. Gross profit increased from AED 113.9 million in 2020 to AED 176.4 million in 2021. Revenue and Gross profit for the nine-month period ended 30 September 2022 reached