State AI firm G42 is offloading about 2% of its stake in data analytics firm Presight AI via an accelerated offering to qualified institutional investors, according to a statement. G42, which holds 70.5% of Presight, will retain a c.68.5% stake in the firm following the sale, and has committed to a 180-day lockup period on remaining shares.

Books are already fully covered after orderbooks opened yesterday, according to terms of the transaction seen by Bloomberg, with the sale valued at around USD 100 mn.

The details: Final terms are due today and settlement is expected around 10 September. The transaction is open to institutional investors both in the UAE and overseas, with some other investors outside of the UAE also included.

The sale is intended to broaden Presight’s investor base, improve liquidity, and support its potential inclusion in the FTSE Emerging Market Index. Presight was added last month to the FTSE Midcap, All-Cap, All-World, and Total-Cap indices after a rise in its market cap, which now stands at AED 20.5 bn. The company posted a breakout 1H 2025, with revenues up 80% y-o-y to AED 1.1 bn.

The secondary sale comes amid a wave of follow-on offerings in the UAE: Adnoc recently offloaded an additional 3% stake in Adnoc Logistics & Services after raising USD 2.8 bn from a 4% sell-down in Adnoc Gas in February. Mubadala is also reportedly preparing to pare back its USD 1 bn stake in telecom operator Du, while Dubai Taxi could return to the DFM with a secondary sale if market conditions permit.

ADVISORS- First Abu Dhabi Bank and Jefferies are joint global coordinators and bookrunners. International Securities is also serving as joint bookrunner.

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