Odaily News Cryptocurrency mining company Phoenix Group (PHX) completed its IPO on the Abu Dhabi Securities Exchange (ADX) and was oversubscribed 33 times. It is reported that Phoenix Group provides mining services through hosting services and cloud-based services, and also runs a cryptocurrency exchange called M2, with the native token being MMX. (CoinDesk) According to previous news on November 15, Abu Dhabi blockchain and encryption solution Phoenix Group will conduct an IPO on the Abu Dhabi Securities Exchange on November 16. Phoenix Group has set the offer price at 1.5 dirhams per share and expects to sell a total of 1.36 billion dirhams (approximately US$370 million) in shares. In addition, Emirates International Holding Company (IHC) recently acquired a 10% stake in Phoenix Group.