A leader in cryptocurrency mining and blockchain innovation, Phoenix Group PLC, has adjusted its IPO date on the Abu Dhabi Securities Exchange (ADX) to December 5th, 2023, in honor of the UAE’s National Day.
The decision was made to align with the public holidays on December 2nd, 3rd, and 4th, declared by the Ministry of Human Resources and Emiratisation.
Bijan, the Group CEO of Phoenix Group PLC, expressed deep respect for UAE traditions, stating, “With profound respect for the UAE’s traditions and in celebration of the National Day, we have moved our IPO date to December 5th.”
Despite the rescheduling, anticipation for the IPO remains high, with Group MD Munaf expressing confidence in a warm reception from investors.
Phoenix Group’s IPO closed on Nov. 18 with a 33 times oversubscription, driven by overwhelming demand from retail investors (180 times oversubscribed) and professional investors (22 times oversubscribed).
The UAE’s crypto-friendly environment continues to attract attention, with the recent regulatory approval of the M2 crypto exchange, enabling retail and institutional clients to trade cryptocurrencies.