Abu Dhabi-based AI company G42 announced its intention to sell a stake worth approximately $100 million in Presight, an AI company listed on the Abu Dhabi Securities Exchange, as part of an accelerated secondary offering targeting institutional investors.

According to the company’s statement, the offered stake will be about 2% of Presight’s shares, while G42 will retain a 68.5% ownership after the expected deal closure on Thursday. Deal terms reviewed by Bloomberg showed that the subscription books were fully covered.

Presight’s share price closed at 3.47 dirhams in Wednesday’s session, marking an increase of over 67% since the beginning of the year. G42 believes this move will increase the free float of Presight shares, enhancing its chances of inclusion in global indices such as the FTSE Emerging Markets Index.