Phoenix Group Pushes Back Mega IPO on Abu Dhabi Exchange Due to Strong Investor Interest
• Phoenix Group delays IPO listing on Abu Dhabi Securities Exchange to Dec. 5 due to UAE's National Day holidays
• IPO saw overwhelming demand, with retail investors oversubscribing 180 times and professional investors 22 times
• Phoenix is developing one of the largest crypto mining facilities in the Middle East
• Phoenix has been discussing IPO launch in UAE since at least July 2023
• UAE emerging as one of most crypto-friendly jurisdictions globally, with new crypto initiatives