Cryptocurrency miner Phoenix Group has delayed its itemizing on the Abu Dhabi Securities Change.
Bitcoin (BTC) mining agency Phoenix Group has moved the date for going public on the Abu Dhabi Securities Change (ADX).
In keeping with a press launch revealed on Nov. 28, 2023, the agency has rescheduled the itemizing date to Dec. 5, 2023, the UAE’s Nationwide Day. The UAE-headquartered agency famous that regardless of the delay, it anticipates “a heat reception from traders.”
“This alignment with our nationwide festivities affirms our deep respect for the UAE’s heritage and dedication to its future.”
Phoenix Group Co-Founder Bijan Alizadeh
Initially, Phoenix Group was planning to go public on Dec. 4, 2023 after the agency mentioned its IPO was oversubscribed over 30 instances. Nonetheless, the Ministry of Human Sources and Emiratisation marked Dec. 2-4 as public holidays for the non-public sector.
In mid-November 2023, Phoenix Group provided 907,323,529 shares at 1.50 dirhams ($0.51) a share, representing a 17.64% stake of the corporate. The agency can be accessible on ADX underneath the buying and selling image PHX.
Based in 2017, Phoenix Group not solely presents cloud-mining companies, but additionally runs M2, a cryptocurrency alternate endorsed by Kevin O’Leary. The corporate has established itself in numerous international markets, together with the U.S., Canada, Europe and the Center East.