Bayanat AIPLC, a public limited company registered on the Abu Dhabi Global Market, the leader in high-growth AI-powered geospatial solutions in the region, announced today the success of its initial public offering (IPO) on the Abu Dhabi Securities Exchange’s primary market. After exceeding the target subscription by 41 times in the professional investor segment.
The company announced – in a press release issued about an hour after the opening of subscriptions – that it had collected enough subscriptions to cover the offering of professional investors estimated at 534,285,715 shares.
In addition to the strategic investors in the company, “Silver Lake and the International Holding Company”, the show witnessed a great turnout.
Engineer Hassan Al Hosani, CEO of the company, said: “It gives me great pleasure to witness the great turnout and commitment of our strategic investors in the company” Silver Lake and International Holding Company (IHC), in addition to other professional investors on the IPO of Bayanat AIPLC, which It is a strong reflection of the confidence investors have in our vision and robust growth path.”
The subscription period ends on October 25. While the shares are expected to be listed and traded on the Abu Dhabi Securities Exchange on October 31, 2022.
It is noteworthy that Dubai Islamic Bank is the lead manager, and First Abu Dhabi Bank acts as the lead receiving bank. International Securities Broker Recipient of the IPO.
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