UAE's Phoenix Group plans to launch IPO on Abu Dhabi Securities Exchange
Phoenix Group, the Abu Dhabi-based blockchain and crypto solutions company, on Friday said it would go public as it aims to expand and boost its offerings.
Founded in 2017, Phoenix aims to float its initial public offering on the Abu Dhabi Securities Exchange. It has not specified the timeline or size of the IPO.
Phoenix said it would be the first privately owned crypto and blockchain entity to be listed on a Middle East stock market.
“The impending IPO will not only be a testament to our past achievements but a clear signal of our ambitions,” Phoenix’s co-founders Bijan Alizadeh and Munaf Ali said.
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