Crypto mining company Phoenix Group completes $371 million IPO on Abu Dhabi Stock Exchange

2023-12-05 07:01

Odaily News Encryption mining company Phoenix Group completed a US$371 million IPO on the Abu Dhabi Securities Exchange (ADX) and rose 50% that day. The IPO attracted nearly US$12 billion in funds and was oversubscribed by as much as 33 times. In addition, reports said that International Holding Co., Abu Dhabi’s largest conglomerate controlled by important members of the UAE royal family, purchased a 10% stake in Phoenix Group in early October this year. (Bloomberg)

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