15 Nov 2023

Hadef & Partners advise Phoenix Group on their IPO and Listing on the Abu Dhabi Securities Exchange

Authored by: Hadef & Partners Press Office

Hadef & Partners is proud to have advised Phoenix Group Plc, the Abu Dhabi based blockchain and crypto solutions company, as lead counsel on its initial public offering and listing on the Abu Dhabi Securities Exchange (ADX). The announcement of the IPO was made on 10 November 2023. Subscription starts on 16 November 2023 and closes on 18 November 2023 with a target listing of 4 December 2023 on ADX.

The offering is expected to raise over AED 1.3 Billion.

Hadef & Partners was appointed as legal counsel for the IPO and we advised on the restructuring process, legal and regulatory compliance, disclosure requirements, corporate governance and other related matters.

The Hadef team in Abu Dhabi was led by the Abu Dhabi Executive Partner and Head of Corporate, Yasser Omar. Core team included, partner Mahmoud El Gharabawy, senior associate Marwan Abdel Hamid, associate Jhan Litov and associate Sundus Khan.