The Phoenix Group announced its imminent initial public offering on the Abu Dhabi Securities Exchange (ADX).
This upcoming listing will represent an important IPO for the United Arab Emirates, as the Phoenix Group is the first privately owned entity in the field of cryptocurrencies and blockchain in the Middle East to be listed on the stock market.
The founders of the Phoenix Group, Bijan Alizadehfard, Group CEO and Munaf Ali, Group Managing Director, said: “Our journey began from the heart of Abu Dhabi, and today we stand on the cusp of this important achievement, with the announcement of our intention to offer our shares for public subscription.
They added that the announcement of the planned IPO is a pivotal moment for the Phoenix Group, and is an important step in line with Abu Dhabi Economic Vision 2030. Our goal has always been to support innovation and contribute to strengthening Abu Dhabi’s position in the global technology landscape.
Phoenix Group specializes in a range of services, from high-performance computing, cryptocurrencies, cloud mining, data center hosting, cryptocurrency trading, and cryptocurrency mining products and equipment.
