“Crypto Firm Phoenix Hits $3.3 Billion Value in Abu Dhabi Debut”
December 7, 2023
“Cryptocurrency mining hardware retailer Phoenix Group Plc jumped 35% on its Abu Dhabi debut, as the first crypto-related listing in the Middle East surged amid a rally in Bitcoin.
That gave the six-year-old company a market capitalization of 12.3 billion dirhams ($3.3 billion). The stock closed at 2.03 dirhams Tuesday, up from the IPO price of 1.50, having earlier risen as much as 51%. The offering comes as Bitcoin topped $42,000 on optimism that the US will allow its first spot exchange-traded funds and hopes that the worst of a regulatory crackdown is over…”
https://finance.yahoo.com/news/crypto-firm-phoenix-jumps-50-060214365.html