The “Phoenix” Group has unveiled its initial public offering on the Abu Dhabi Securities Exchange (ADX), by setting the share price at 1.5 AED.
After the listing, the “Phoenix” Group became the first privately owned cryptocurrency and blockchain entity in the Middle East to be listed on the stock market.
The company put about 18% of its capital up for public subscription in Abu Dhabi, on November.
The International Holding Company(IHC) had concluded a final agreement to purchase a 10% stake in the Phoenix Group.
The Phoenix Group specializes in a range of services, ranging from high-performance computing, cryptocurrencies and cloud mining, data center hosting and cryptocurrency trading, cryptocurrency mining products and equipment.
The Abu Dhabi Securities Exchange witnessed five initial public offerings last year and two double listings, in addition to the listing of six exchange-traded funds and one blank cheque company. It implemented a single listing on its secondary market that connects investors with smaller, privately owned companies.
