Phoenix Group announced its impending Initial Public Offering on the Abu Dhabi Securities Exchange

The technology company Phoenix Group, which is renowned for its state-of-the-art blockchain and cryptocurrency solutions, has announced that it will soon launch its initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX). Bijan Alizadeh and Munaf Ali, experts in blockchain and cryptocurrencies, co-founded Phoenix Group. Tareq Alhosani Abdulraheem, who chairs Global Aerospace Logistics LLC and is a board member of several strategic UAE entities, and Elham Alqasim, who is a board director at Amanat Holdings PJSC and on the board of Bayanat, oversee the company.

As the first privately held blockchain and cryptocurrency company to list on a Middle Eastern stock exchange, Phoenix Group's impending listing would constitute a significant initial public offering (IPO) for the United Arab Emirates. Phoenix Group focuses on a variety of services, including high-performance computing, cloud and cryptocurrency mining, data center hosting, cryptocurrency trading, and crypto mining goods and equipment. With a total installed capacity of 725 MW spanning the UAE, Oman, US, Canada, and CIS nations.