Silver Lake Backs Abu Dhabi Firm Bayanat’s $171 Million IPO
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Bayanat, a geospatial and data analytics firm owned by Abu Dhabi’s G42, is set to raise $171 million in an initial public offering backed by US private equity firm Silver Lake and the United Arab Emirates’ most valuable company.
G42 is selling 571.4 million shares in Bayanat at 1.10 dirhams ($0.27) each. Silver Lake and Abu Dhabi’s International Holding Co. will invest at that price, though the size of the commitment wasn’t immediately clear.