Cryptocurrency mining company Phoenix Group has seen a significant oversubscription during its pre-market sale on Nov. 21, and is now preparing for its public trading launch.
However, due to an unexpected increase in demand, the date has been pushed back from Dec. 4, 2023 to Dec. 5, to allow for comprehensive participation in the IPO.
This is due to the UAE National Day being celebrated on Dec. 2, 3, and 4, leading to those days being declared as public holidays for the private sector.
Phoenix Group’s IPO saw an oversubscription of 33 times, with retail investors oversubscribing by 180 times and professional investors by 22 times.
