Phoenix Group PLC, the Abu Dhabi-based multi-billion-dollar global technology, announced on Monday, March 10, that its CEO & Co-Founder Munaf Ali has significantly increased his stake in the company.
The company also disclosed that it continues to evaluate the potential for a future US listing, aligning with its ongoing expansion into the North American bitcoin mining sector.
Since the public disclosure on ADX on November 18, 2024, Ali has acquired over 20 million ordinary shares of Phoenix Group through direct market purchases, the company said in a media statement.
This substantial investment highlights his deep confidence in the company’s growth potential and his commitment to aligning executive interests with those of shareholders, the statement said.
Phoenix Group expands boldly
On the US listing plans, the company said its investments in the US reflect a broader strategy to scale its high-margin self-mining operations and diversify its geographic footprint in 2025 and beyond.
“As we enter a year of high-impact expansion, I firmly believe in Phoenix Group’s long-term potential, as these purchases show,” said CEO & Co-Founder Munaf Ali.
“Increasing my holding in the company reflects my belief in our differentiated strategy, high-quality operations, and future growth,” he said.
Ali said Phoenix Group is at the forefront of digital asset mining, and it remains fully focused on delivering growth and sustainable value creation for its shareholders.
Phoenix Group said it will participate in the Cantor Global Technology Conference in New York City, USA, slated for March 11-12.
This high-profile engagement will provide the company with an opportunity to interact with leading US institutional investors and strategic partners, further reinforcing the Group’s presence in the US market, it said.
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