Connect with us

Business Insights

Phoenix Group Announces Groundbreaking IPO on ADX

Phoenix Group has announced preparations for an upcoming IPO on the Abu Dhabi Securities Exchange (ADX).

Phoenix Group, a technology conglomerate known for its innovative blockchain and cryptocurrency solutions, has unveiled its plans for an upcoming Initial Public Offering (IPO) on the Abu Dhabi Securities Exchange (ADX). 

The company is co-founded and led by blockchain and cryptocurrency experts Bijan Alizadeh and Munaf Ali, with a board that includes prominent figures such as Tareq Alhosani Abdulraheem and Elham Alqasim.

A Milestone for the UAE:

This anticipated IPO is a significant milestone for the United Arab Emirates (UAE). 

Phoenix Group is set to become the first privately owned crypto and blockchain entity listed on a Middle East stock market.

Vision and Ambitions:

The CEO, Bijan Alizadehfard, and Managing Director, Munaf Ali, expressed their vision and commitment to the future of technology. 

They emphasized their mission to transcend borders and horizons and underscored their aim to create a resilient, inclusive, and diversified global blockchain economy. 

The impending IPO is a testament to their ambitions and achievements, signifying a pivotal moment in Phoenix Group’s journey.

The founders highlighted Abu Dhabi’s role as the origin of their journey, emphasizing its innovative spirit. 

They see the IPO as a way to contribute to Abu Dhabi’s positioning in the global tech landscape and align with Abu Dhabi’s Economic Vision 2030.

Phoenix Group’s Expertise:

Phoenix Group boasts a total installed capacity of 725 MW across several countries, including the UAE, Oman, the US, Canada, and CIS countries. 

The company specializes in various services, including high-performance computing, crypto and cloud mining, data center hosting, crypto trading, and crypto mining products and equipment.

The Phoenix Group IPO marks a significant step in the evolution of the cryptocurrency and blockchain industry in the UAE and the Middle East, and it is poised to attract local, regional, and global investors eager to participate in this pioneering venture.

Get all the latest update on UAE Times Now

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *