Phoenix Group has had a strong year so far: The soon to be ADX-listed crypto mining firm Phoenix Group reported net income of USD 144.4 mn in 9M 2023 compared to USD 138.9 mn in net income for 2022, Phoenix said in its maiden financials (pdf) filed to the ADX. The financials did not provide figures for comparable periods. On the flip side, the company’s revenues came in at USD 229 mn during the first nine months of the year, compared to USD 755.5 mn in 2022.

The crypto miner has delayed its debut on the bourse: Phoenix Group was expected to commence trading its shares on the ADX next Monday, 4 December. However, the firm has pushed its IPO date to 5 December to avoid a clash with the UAE’s National Day, according to a statement.

Remember: Phoenix’s IPO closed on 18 November with a 33x oversubscription rate. The retail portion of the offering was 180x oversubscribed, while the institutional portion was 22x oversubscribed.

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