Bayanat AI PLC, a G42 company, announces offer price per share and start of subscription period for IPO

Bayanat AI PLC, a G42 company, announces offer price per share and start of subscription period for IPO

- The offer price has been set at AED 1.10 per share, with the Company expected to raise approximately AED 628 million upon offer completion

- Silver Lake and International Holding Company to become cornerstone investors in the IPO

- Subscription period for the offering starts today and will close on 25 October 2022 for both Retail and Professional Investors

- Listing of Shares and trading on ADX is anticipated on 31 October 2022

Abu Dhabi: Bayanat AI PLC, a public company limited by shares incorporated in the Abu Dhabi Global Market (the “Company”), today announced the offer price per share and the opening of the subscription period for its Initial Public Offering (“IPO” or the “Offering”) on the First Market of the Abu Dhabi Securities Exchange (“ADX”).

Details of the Offering Price Range

The opening of the subscription period for the Offering commences today and will close on 25 October 2022. The offer price for the Offering has been set at AED 1.10 per share, with the Company expected to raise approximately AED 628 million upon offer completion. Listing of the shares on ADX is expected on 31 October 2022.

The Company intends to offer for public subscription 571,428,572 shares (which will represent 22.22% of the