{"id":87867,"date":"2023-12-05T14:42:02","date_gmt":"2023-12-05T12:42:02","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=87867"},"modified":"2025-09-13T14:31:09","modified_gmt":"2025-09-13T11:31:09","slug":"phoenix-groups-mining-firm-jumps-50-on-first-day-of-trading","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/phoenix-groups-mining-firm-jumps-50-on-first-day-of-trading\/","title":{"rendered":"Phoenix Group&#8217;s mining firm jumps 50% on first day of trading"},"content":{"rendered":"<p>Shares of the Abu Dhabi-based mining firm and provider of colocation services<a href=\"https:\/\/ru.wikipedia.org\/wiki\/%D0%9A%D0%BE%D0%BB%D0%BE%D0%BA%D0%B0%D1%86%D0%B8%D1%8F\"> \u043a\u043e\u043b\u043e\u043a\u0430\u0446\u0438\u0438<\/a> Phoenix Group opened at 2.25 <span data-descr=\"dirhams\" class=\"old_tooltip\">AED<\/span> on the first trading day. The <span data-descr=\"initial public offering\" class=\"old_tooltip\">IPO<\/span> priced at 1.5 AED, writes<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-05\/crypto-firm-phoenix-jumps-50-after-371-million-abu-dhabi-ipo\"> Bloomberg<\/a>.<\/p>\n<p>In November, frenzy led<a href=\"https:\/\/forklog.com\/en\/news\/abu-dhabi-based-mining-firm-phoenix-group-raises-370-million-in-ipo\"> to a 33-fold oversubscription<\/a> of the company&#8217;s securities as the order book closed. Demand from retail investors outstripped supply by 180 times.<\/p>\n<p>Phoenix Group placed 17.64% of its shares, raising 1.36 billion AED ($371 million) from investors.<\/p>\n<p>The company operates facilities across the United States, Canada, Europe and the Middle East.<\/p>\n<p>Additionally, Phoenix Group sells miners and consumer-oriented hardware wallets, and operates the Abu Dhabi crypto-investment platform M2.<\/p>\n<p>In August, <span data-descr=\"Abu Dhabi Financial Services Regulator within the Emirate's Global Markets Department (ADGM)\" class=\"old_tooltip\">FSRA<\/span> <a href=\"https:\/\/forklog.com\/en\/news\/abu-dhabi-regulator-approves-m2-to-offer-crypto-services\">issued<\/a> M2 permission to provide services related to virtual assets.<\/p>\n<p>In July, Luxor<a href=\"https:\/\/forklog.com\/en\/news\/experts-explain-the-specifics-of-mining-in-the-uae\"> valued at 3.7%<\/a> of the UAE&#8217;s share in Bitcoin&#8217;s global <a href=\"https:\/\/forklog.com\/en\/news\/what-are-hashrate-and-mining-difficulty-in-cryptocurrencies\">hashrate<\/a>, describing the country as the fastest-growing mining hub in the Middle East.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Phoenix Group, the Abu Dhabi-based mining company, opened on the first trading day at 2.25 AED. The IPO priced at 1.5 AED, Bloomberg reports.<\/p>\n","protected":false},"author":1,"featured_media":87868,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,1221,42],"class_list":["post-87867","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-stocks","tag-uae"],"aioseo_notices":[],"amp_enabled":true,"views":"7","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/87867","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=87867"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/87867\/revisions"}],"predecessor-version":[{"id":87869,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/87867\/revisions\/87869"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/87868"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=87867"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=87867"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=87867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}