Abu Dhabi G42-Owned Bayanat Seeks to Raise $171 Million From IPO
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Bayanat, a geospatial and data analytics firm owned by Abu Dhabi’s G42, plans to raise $171 million from an initial public offering, joining a steady flow of Gulf companies tapping the capital markets.
The firm plans to sell a 28.5% stake, or 571.4 million shares, at 1.1 dirhams a share, according to an advertisement in Gulf News. The IPO will open Oct. 21 and close Oct. 25, and will be managed by First Abu Dhabi Bank PJSC and International Securities LLC among others.