Crypto mining company Phoenix Group completed its IPO on the Abu Dhabi Stock Exchange and will be listed on December 4

According to news on November 21, the crypto mining company Phoenix Group completed its IPO on the Abu Dhabi Stock Exchange and was oversubscribed 33 times. The company issued 907,323,529 shares, which were oversubscribed 180 times by retail investors and 22 times by professional investors. The offer period will end on November 18, and the listing is scheduled for December 4, 2023, under the trading symbol PHX. Abu Dhabi blockchain and crypto solution Phoenix Group will conduct an initial public offering (IPO) on the Abu Dhabi Securities Exchange on November 16. Phoenix Group has set the offer price at 1.5 dirhams per share, a total of 13.6 billion dirhams ($370 million) in shares. In addition, Emirates International Holding Company (IHC) recently acquired a 10% stake in Phoenix Group.

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