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ABU DHABI – Phoenix Group PLC, a pioneer in the Middle East’s crypto economy, has unveiled plans to list on the Abu Dhabi Securities Exchange, a move that represents a significant milestone for private blockchain conglomerates in the region. Co-founders Bijan Alizadehfard and Munaf Ali expressed their commitment to innovation by launching the stock offering period today, presenting a large number of shares at a competitive price to retail and professional investors.
The company is opening a 17.64% share of its share capital to public investment from today until Friday. This equates to 907,323,529 shares priced at AED 1.50 each, out of a total of 5,141,500,000 shares before the offer. The offering process is overseen by First Abu Dhabi Bank PJSC and International Securities LLC, ensuring a transparent transaction for potential stakeholders.
Phoenix Group’s strategic decision to list on the Abu Dhabi Securities Exchange not only highlights its role in the thriving cryptocurrency market, but also signals its potential for expansive growth beyond the Middle East markets. Investors interested in participating in the growth of Phoenix Group can view the prospectus on the company’s website and can contact the lead receiving bank for further details regarding the share offering.
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