UAE's crypto mining giant Phoenix Group is next up for an IPO and listing on ADX
This makes Phoenix Group the first private crypto listing in the Middle East
Dubai: Phoenix Group, a technology conglomerate known for its blockchain and crypto solutions, is set to launch its Initial Public Offering (IPO) on the Abu Dhabi Securities Exchange (ADX).
Co-founded by blockchain and crypto experts Bijan Alizadeh and Munaf Ali, the company is governed by a board featuring Tareq Alhosani Abdulraheem and Elham Alqasim.
With this IPO, Phoenix Group will become the first privately owned crypto and blockchain entity to be listed on a Middle East stock exchange.
“The impending IPO will not only be a testament to our past achievements but a clear signal of our ambitions,” Phoenix Group Bijan Alizadehfard, the Group’s CEO and Munaf Ali, the Group’s MD, said. “We envision a world where our digital solutions, rooted in Abu Dhabi's innovative spirit, touch every life, every business, and every community across the globe.”
“Our aim is to be able to help create a more resilient, inclusive, and diversified global blockchain economy, and this IPO is just the first step towards achieving that goal.”
“This landmark announcement offers local, regional and global investors the opportunity to participate in making this iconic vision, a reality,” they added.
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