Phoenix Group to launch IPO in Abu Dhabi, plans to raise US$370 million
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)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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