Mining company Phoenix Group completed its IPO on the Abu Dhabi Securities Exchange and will be listed on December 4
On November 21st, cryptocurrency mining company Phoenix Group completed its IPO on the Abu Dhabi Securities Exchange, receiving 33 times oversubscription. The company issued 907,323,529 shares of stock, with retail investors oversubscribing by 180 times and professional investors oversubscribing by 22 times. The tender offer period will end on November 18th, and the listing is scheduled for December 4th, 2023, with the trading code being PHX.
As previously reported by BlockBeats, on November 15th, Phoenix Group announced that it would conduct an IPO on the Abu Dhabi Securities Exchange on November 16th. Phoenix Group set the tender offer price at 1.5 dirhams per share, and is expected to sell a total of 1.36 billion dirhams (approximately 370 million US dollars) in shares.
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