The post Phoenix Group Plc Soars on Abu Dhabi Debut! appeared first on Coinpedia Fintech News
Phoenix Group Plc experienced a remarkable surge in its share price, climbing as much as 50% on its debut on the Abu Dhabi Securities Exchange (ADX). This impressive performance followed a highly successful initial public offering (IPO) that raised $371 million, setting a new benchmark for crypto-related fundraising in the Middle East. The IPO, the first of its kind in the region, attracted overwhelming interest from investors, with oversubscription reaching a staggering 33 times the initial offering size. This enthusiastic response translates to orders worth approximately $12 billion, highlighting the burgeoning demand for crypto-related investments in the Middle East.
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