Crypto player announces IPO on ADX

Phoenix Group, providing blockchain and crypto solutions, announced its impending Initial Public Offering (IPO) on the Abu Dhabi Securities Exchange (ADX).

Phoenix Group is co-founded by pioneering blockchain and cryptocurrency specialists, Bijan Alizadeh and Munaf Ali and overseen by a board including Tareq Alhosani Abdulraheem and Elham Alqasim.

This upcoming listing would represent an important IPO for the UAE, with Phoenix Group being the first privately owned crypto and blockchain entity to be listed on a Middle East stock market.

With a total installed capacity of 725 MW across the UAE, Oman, US, Canada and CIS countries, Phoenix Group specialises in a range of services, from high-performance computing to crypto and cloud mining, data centre hosting, crypto trading, and crypto mining products and equipment.

Originally published at Arabian Post.