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Is the Phoenix Group IPO a precursor for a future entry into the US stock market via TCRI?
They were going to enter the US stock market a few years back:
Reposting of Munaf Ali's comments about TCRI......
Munaf Ali's speech at the World Digital Mining Summit in Dubai was worth listening to because it provided his first comments about TCRI and also gave some interesting information about Phoenix's background, current status and future plans. The growth trajectory that Phoenix is on is extremely impressive. For example: Phoenix's mining farms in the United States are expected to come online in December 2021. Phoenix VC (the venture capital fund) currently has $500M of assets under management. Today Phoenix announced it has placed an order and paid for $650M of crypto mining equipment for its new UAE mining facility, and will place orders for $2B during Q3 2022 (see press release below).......
https://www.yahoo.com/now/u-e-based-phoenix-technology-074324202.html
Munaf Ali's speech starts around the 2:51:30 mark and ends around the 3:04:30 mark of the livestream replay. Munaf's comments about the TCRI shell can be heard starting at the 3:01:05 mark. I have transcribed what he said below.......
https://www.google.com/search?sca_esv=582779246&rlz=1C1QIHZ_enUS973US973&q=the+world+digital+mining+summit+2021&tbm=vid&source=lnms&sa=X&ved=2ahUKEwjKuZDmh8eCAxUvj4kEHff0CVMQ0pQJegQICRAB&biw=1366&bih=611&dpr=1#fpstate=ive&vld=cid:577c94fa,vid:43_o2S-1K-k,st:0
Quote:
Phoenix has recently acquired a US-listed entity for the purpose of listing some of the Phoenix Group's income generating assets on the US stock market. We expect to be able to share more information with you in early 2022.
Source from Mark954 post:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166935265
Phoenix Group IPO
Phoenix Group IPO: A Detailed Analysis
Introduction
Phoenix Group is a data center and crypto mining company headquartered in Abu Dhabi, United Arab Emirates. The company is set to launch its initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX) on November 16, 2023. The IPO is expected to raise Dh1.36 billion ($370 million), making it one of the largest IPOs in the UAE in recent years.
Phoenix Group is a relatively new company, having been founded in 2021. However, the company has grown rapidly and is now one of the leading players in the UAE’s crypto and data center industries. Phoenix Group operates the UAE’s first fully-regulated digital asset exchange, and it also manages the Citadel Project, which is the largest crypto-mining facility in Abu Dhabi.
The Phoenix Group IPO is a significant event for the UAE’s crypto and data center industries. It is the first time that a UAE-based crypto company has gone public, and it is a signal of the UAE’s growing role in the global crypto industry.
Business Model
Phoenix Group’s business model is based on two main pillars: data centers and crypto mining.
Data Centers
Phoenix Group operates a network of data centers in the UAE. The company’s data centers are highly secure and reliable, and they offer a range of services, including colocation, hosting, and cloud computing. Phoenix Group’s data centers are used by a variety of customers, including government agencies, businesses, and individuals.
Crypto Mining
Phoenix Group also operates a large-scale crypto mining facility in Abu Dhabi. The company’s crypto mining facility uses state-of-the-art equipment to mine Bitcoin and other cryptocurrencies. Phoenix Group sells the mined cryptocurrencies to generate revenue.
Investment Highlights
There are several investment highlights associated with the Phoenix Group IPO:
Exposure to the crypto and blockchain sector: The Phoenix Group IPO is the first opportunity for UAE investors to gain exposure to the growing crypto and blockchain sector through a professionally managed and licensed entity.
Strong track record: Phoenix Group is a relatively new company, but it has grown rapidly and now has a strong track record of success. The company is profitable and has a growing customer base.
Experienced management team: Phoenix Group’s management team is composed of experienced professionals with a deep understanding of the crypto and data center industries.
Support for the UAE’s crypto industry: The Phoenix Group IPO is a signal of the UAE’s growing role in the global crypto industry. The IPO is expected to attract significant interest from both domestic and international investors.
Key Points
IPO launch date: November 16, 2023
Exchange: Abu Dhabi Securities Exchange (ADX)
Offer price: Dh1.5 per share
Subscription period: November 16-17, 2023
Minimum investment for retail investors: Dh5,000
Shares offered: 17.64%
Expected proceeds: Dh1.36 billion ($370 million)
Business: Data center and crypto mining
Risks
Investors should be aware of the following risks before investing in the Phoenix Group IPO:
Volatility of the crypto market: The crypto market is highly volatile and prices can fluctuate wildly. This could have a negative impact on Phoenix Group’s revenue and profitability.
Regulatory uncertainty: The regulatory landscape for the crypto industry is still developing and may change in the future. This could have a negative impact on Phoenix Group’s business.
Competition: The crypto and data center industries are highly competitive. Phoenix Group faces competition from a number of well-established players.
Execution risk: Phoenix Group is a relatively new company and it is expanding rapidly. This could lead to execution risk.
Overall Assessment
The Phoenix Group IPO is a unique opportunity for UAE investors to gain exposure to the growing crypto and blockchain sector. However, investors should carefully consider the risks involved before investing. Before investing in any market or stock gain the knowledge, learn how to buy and sell stocks. You may join my mentorship program before investing in Abu Dhabi Securities Exchange.
Market Outlook
The crypto and data center industries are both expected to grow significantly in the coming years. According to a report by MarketsandMarkets, the global crypto market is expected to grow from $1.5 trillion in 2023 to $6.7 trillion by 2027. The global data center market is also expected to grow significantly, from $185.3 billion in 2023 to $318.7 billion by 2027.
The growth of the crypto and data center industries is being driven by a number of factors, including the increasing adoption of digital currencies, the growth of big data and analytics, and the increasing demand for cloud computing services.
To watch a complete video on Phoenix IPO on my channel click here.
Conclusion
The Phoenix Group IPO is a significant event for the UAE’s crypto and data center industries. It is the first time that a UAE-based crypto company has gone public, and it is a signal of the UAE’s growing role in the global crypto industry.
Phoenix Group is a well-managed company with a strong track record of success. The company is well-positioned to benefit from the growth of the crypto and data center industries. However, investors should carefully consider the risks involved before investing in the Phoenix Group IPO.
https://www.stalkstock.ae/phoenix-group-ipo/
The Abu Dhabi Securities Exchange (ADX) is preparing for a series of initial public offerings (IPOs), including a Dh1.36 billion ($370 million) stock float by Phoenix Group, slated to begin on November 16. Phoenix Group, a data center and crypto mining company, has set the offer price at Dh1.5 per share, allowing UAE investors an entry into the crypto services sector.
Recently, International Holding Company (IHC) of UAE purchased a 10% stake in Phoenix Group. The company manages the 'Citadel Project', which is the largest crypto-mining facility in Abu Dhabi.
The final quarter of 2023 has seen an uptick in IPO activity in the UAE stock markets. Prior to Phoenix's listing on the ADX, the subscription period for Investcorp Capital concluded. Global Capital Partners highlighted Phoenix's IPO as an opportunity for investors to gain exposure to the regulated crypto and blockchain sector, with a specific focus on attracting institutional investors with extensive knowledge of the crypto industry.
Retail investors are required to invest a minimum of Dh5,000 to participate in the IPO, which allocates 6.67% (or 60.48 million shares) to them. Analysts view Phoenix as offering local investors their first experience with growth opportunities centered around cryptocurrency.
This year, Phoenix expanded its international presence by establishing a 150MW facility in Oman through Green Data City. The company also has agreements with Bitmain and MicroBT, which have contributed to its strong sales performance despite the downturn in crypto markets. Last year, Phoenix invested in a 250MW data mining facility in Abu Dhabi, which helped drive its revenue up to $715 million from $161 million in trading operations in 2021. The company currently operates facilities with a combined capacity of 100MW in the U.S. and Canada.
https://www.investing.com/news/stock-market-news/phoenix-groups-ipo-to-offer-1764-stake-in-abu-dhabis-adx-93CH-3230015
12:34 AM·Nov 15, 2023
Binance News
This article has been republished with permission from Binance News.
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.
https://www.binance.com/en/feed/post/2023-11-15-phoenix-group-set-for-ipo-on-abu-dhabi-securities-exchange-1770421
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