Phoenix Group to launch IPO in Abu Dhabi, plans to raise US$370 million

11/15 05:46

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Abu Dhabi blockchain and encryption solution Phoenix Group will conduct an IPO on the Abu Dhabi Securities Exchange on November 16. Phoenix Group has set the tender offer price at 1.5 dirhams per share, with a total of 1.36 billion dirhams (approximately 370 million US dollars) of stocks expected to be sold.

In addition, recently, UAE International Holding Company (IHC) acquired 10% of Phoenix Group's equity. (Investing.com)

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