Phoenix Group delays stock listing for public trading following an overwhelming response in the pre-market sale on November 21.
The company’s IPO, initially set for December 4 on the Abu Dhabi Securities Exchange (ADX), undergoes a strategic revision. In today’s
announcement, Phoenix Group discloses a rescheduled listing date of December 5, 2023. This shift is attributed to the UAE National Day, celebrated on December 2, with public holidays extending until December 4. The decision to delay aims to ensure comprehensive investor participation in the IPO.
Phoenix Group’s IPO Valued at US$370 Million, Paving the Way for Crypto Evolution!
As reported on November 15, Phoenix Group’s IPO will value its shares at a significant US$370 million, marking a historic moment as the first listed encryption company in the Middle East. This move underscores Phoenix Group’s prominence in the crypto mining sector and signals a significant milestone for the Middle East’s involvement in the global cryptocurrency landscape.
The company’s pre-market sale on November 21 witnessed exceptional demand, creating substantial anticipation for its public trading launch. Phoenix Group’s decision to reschedule the listing date aligns with its commitment to accommodating investor interests and fostering a successful market entry. As the cryptocurrency industry continues to evolve, Phoenix Group’s upcoming public trading debut on December 5, 2023, is poised to make waves in the Middle East and beyond.