Phoenix Group Set for IPO on Abu Dhabi Securities Exchange

According to Foresight News, Phoenix Group, an Abu Dhabi-based blockchain and crypto solutions provider, is set to launch its initial public offering (IPO) on the Abu Dhabi Securities Exchange on November 16. The company has set the offer price at 1.5 dirhams per share, totaling 1.36 billion dirhams ($370 million) in stocks. In addition, the International Holding Company (IHC) of the United Arab Emirates recently acquired a 10% stake in Phoenix Group.