Emirates News Agency – Phoenix Group gears up for landmark IPO on ADX

ABU DHABI, 14th October, 2023 (WAM) — Phoenix Group, a expertise conglomerate revered for its cutting-edge blockchain and crypto options, introduced its impending Preliminary Public Providing (IPO) on the Abu Dhabi Securities Change (ADX).

Phoenix Group is co-founded by pioneering blockchain and cryptocurrency specialists, Bijan Alizadeh and Munaf Ali and overseen by a visionary board together with Tareq Alhosani Abdulraheem (who sits on the Board of a number of UAE strategic entities together with being chairman of International Aerospace Logistics LLC) and Elham Alqasim (who sits on the Board of Bayanat and Board Director at Amanat Holdings PJSC).

This upcoming itemizing would symbolize an necessary IPO for the UAE, with Phoenix Group being the primary privately owned crypto and blockchain entity to be listed on a Center East inventory market.

Discussing the upcoming IPO, the Co-Founders of Phoenix Group Bijan Alizadehfard the Group’s CEO and Munaf Ali the Group’s MD, stated, “Our journey, originating from the guts of Abu Dhabi, has at all times been visionary, wanting past borders and horizons. In the present day, as we stand on the cusp of this important milestone, we’re not simply asserting an intention to IPO – we’re sharing our dedication to a future the place expertise is aware of no boundaries. The approaching IPO won’t solely be a testomony to our previous achievements, however a transparent sign of our ambitions. We envision a world the place our digital options, rooted in Abu Dhabi’s modern spirit, contact each life, each enterprise, and each group throughout the globe. Our goal is to have the ability to assist create a extra resilient, inclusive, and diversified international blockchain financial system, and this IPO is simply step one in the direction of attaining that aim.”

Additionally they added, “Saying our deliberate IPO is a pivotal second for Phoenix Group; a major stride aligned with Abu Dhabi’s Financial Imaginative and prescient 2030. Our goal has at all times been to champion innovation and contribute to Abu Dhabi’s positioning within the international tech panorama. This landmark announcement affords native, regional and international traders the chance to take part in making this iconic imaginative and prescient, a actuality.”

With a complete put in capability of 725 MW throughout the UAE, Oman, US, Canada and CIS international locations, Phoenix Group specialises in a variety of providers, from high-performance computing to crypto and cloud mining, information centre internet hosting, crypto buying and selling, and crypto mining merchandise and tools.