Phoenix Group, a renowned technology conglomerate in the blockchain and cryptocurrency space, has announced its plans for an Initial Public Offering (IPO) on the Abu Dhabi Securities Exchange (ADX). This marks a significant milestone as Phoenix Group will be the first privately owned crypto and blockchain entity to list on a Middle Eastern stock market.
The group, co-founded by blockchain experts Bijan Alizadeh and Munaf Ali, boasts a leadership team with impressive credentials. The board includes Tareq Alhosani Abdulraheem, chairman of Global Aerospace Logistics LLC, and Elham Alqasim, a board member at Bayanat and Amanat Holdings PJSC.
Speaking about the IPO, Bijan Alizadehfard, CEO of Phoenix Group, and Munaf Ali, MD, shared their vision of transcending boundaries with technology. They emphasized that the IPO is more than just a business milestone; it’s a commitment to a future where technology integrates seamlessly into all aspects of life. The duo envisions their digital solutions, birthed from Abu Dhabi’s innovative spirit, impacting lives, businesses, and communities worldwide. They aim to foster a resilient, inclusive, and diversified global blockchain economy, with this IPO being a crucial step in that direction.
The announcement of this IPO is aligned with Abu Dhabi’s Economic Vision 2030, underlining Phoenix Group’s dedication to innovation and Abu Dhabi’s global technological prominence. The IPO presents an opportunity for local, regional, and global investors to engage in this transformative vision.
Phoenix Group has established a strong presence in the industry, with a total installed capacity of 725 MW across the UAE, Oman, US, Canada, and CIS countries. The company offers a spectrum of services, including high-performance computing, crypto and cloud mining, data center hosting, crypto trading, and provision of crypto mining products and equipment.
This upcoming IPO is a landmark event for the UAE’s financial and technology sectors. It highlights the country’s growing influence in the global tech landscape and its commitment to embracing cutting-edge technologies like blockchain and cryptocurrency. As investors and tech enthusiasts eagerly await this IPO, Phoenix Group stands at the forefront of a new era in technology and finance in the Middle East.
