The Emirati Bayanat Company intends to offer a 28.5% stake in its shares for public subscription, in a move aimed at raising $171 million.
According to Arab Net, the company owned by G42 in Abu Dhabi, which provides geographic and data analytics, set the offering price at 1.1 dirhams per share.
The subscription process will be managed by First Abu Dhabi Bank, International Securities and other financial institutions from October 21 to October 25.
Bayanat visualizes, analyzes, understands and improves data.
The UAE market is witnessing momentum in offerings, the latest of which was the subscription of Burjeel Holding, where 11% of its capital, equivalent to 550.73 million shares, was offered for subscription, divided into two tranches (individuals and professional investors).
The final offer price of the share was set at two dirhams per share, i.e. at the lower end of the price range, bringing the market value of Burjeel Holding upon listing to about 10 billion dirhams.
