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TechFlow reports that Phoenix, a cryptocurrency mining hardware retailer, saw its shares rise 50% after raising $371 million in an IPO in Abu Dhabi. The offering marks the first crypto-related listing in the Middle East, was oversubscribed 33 times—indicating $12 billion in orders—and the portion reserved for retail investors was oversubscribed 180 times.
TechFlow reports that Phoenix, a mining hardware retailer, saw its shares rise 50% after raising $371 million in its IPO in Abu Dhabi. The offering marks the first crypto-related listing in the Middle East, was oversubscribed 33 times—indicating $12 billion in orders—and the portion reserved for retail investors was oversubscribed by 180 times.
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