Cryptocurrency mining company Phoenix Group completes $371 million IPO on Abu Dhabi Stock Exchange

ChainCatcher news, according to Bloomberg, cryptocurrency mining company Phoenix Group completed a $371 million IPO on the Abu Dhabi Securities Exchange (ADX) and rose 50% on the same day. This IPO attracted $12 billion in funds, with a 33 times oversubscription.

In addition, it was reported that International Holding Co., the largest corporate group in Abu Dhabi controlled by important members of the UAE royal family, purchased 10% of Phoenix in early October.