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Cryptocurrency miner Phoenix Group has delayed its listing on the Abu Dhabi Securities Exchange. 
Bitcoin (<a href="https://crypto.news/price/bitcoin" target="_blank" rel="noreferrer noopener">BTC</a>) mining firm Phoenix Group has moved the date for going public on the Abu Dhabi Securities Exchange (ADX). 
According to a <a href="https://www.globenewswire.com/news-release/2023/11/28/2786920/0/en/Phoenix-Group-PLC-Announces-New-IPO-Date-December-5th-2023-Following-UAE-National-Day-Celebrations.html" target="_blank" rel="noreferrer noopener">press release</a> published on Nov. 28, 2023, the firm has rescheduled the listing date to Dec. 5, 2023, the UAE’s National Day. The UAE-headquartered firm noted that despite the delay, it anticipates “a warm reception from investors.” 
<blockquote class="wp-block-quote"> 
 “This alignment with our national festivities affirms our deep respect for the UAE’s heritage and commitment to its future.” 
 Phoenix Group Co-Founder Bijan Alizadeh 
</blockquote> 
 You might also like: <a href="https://crypto.news/opnx-fined-2-7-million-in-uae-for-flouting-marketing-laws/"> OPNX fined $2.7 million in UAE for flouting marketing laws </a> 
Initially, Phoenix Group was planning to go public on Dec. 4, 2023 after the firm said its IPO was <a href="https://crypto.news/bitcoin-miner-phoenix-groups-370m-ipo-overwhelms-with-massive-subscription-rate/" target="_blank" rel="noreferrer noopener">oversubscribed</a> over 30 times. However, the Ministry of Human Resources and Emiratisation marked Dec. 2-4 as public holidays for the private sector. 
In mid-November 2023, Phoenix Group offered 907,323,529 shares at 1.50 dirhams ($0.51) a share, representing a 17.64% stake of the company. The firm will be available on ADX under the trading symbol PHX. 
Founded in 2017, Phoenix Group not only offers cloud-mining services, but also runs M2, a cryptocurrency exchange <a href="https://protos.com/m2-did-mr-wonderful-endorse-the-next-ftx/" target="_blank" rel="noreferrer noopener">endorsed</a> by Kevin O’Leary. The company has established itself in various global markets, including the U.S., Canada, Europe and the Middle East. 
 Read more: <a href="https://crypto.news/changpeng-zhaos-uae-return-halted-by-federal-court-before-sentencing/"> Changpeng Zhao’s UAE return halted by federal court before sentencing </a>

Crypto mining firm Phoenix Group delays share listing date

crypto.news

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