Home Business FTSE ADX indices welcomes Phoenix Group PLC, cementing market influence

FTSE ADX indices welcomes Phoenix Group PLC, cementing market influence

by Staff Reporter
FTSE ADX indices welcomes Phoenix Group PLC

Phoenix Group PLC, the region’s first listed blockchain and tech conglomerate, has been added to the FTSE ADX General (FADGI) and FTSE ADX 15 (FADX15). This development was announced as part of the semi-annual review of the FTSE ADX Index, effective March 18, 2024.

The inclusion of Phoenix Group in the FTSE ADX Indices is anticipated to elevate the company’s visibility among investors and stakeholders, further solidifying its foothold in the market.

The move is also set to create positive momentum for Phoenix Group PLC, thereby attracting significant passive funds. This milestone underlines Phoenix Group’s steadfast commitment to generating enduring value for its shareholders and highlights its potential for sustained growth.

Pleased to share that Phoenix Group has been included in an index fund, Seyed Mohammad Alizadehfard (Bijan), Co-founder & Group CEO, stated, “This is a significant development as it will attract passive investments and increase trading volumes. We are proud to be included in the ADX FTSE Indices, which reflects our commitment to upholding strong financial fundamentals and delivering value to our stakeholders.”

Phoenix Group’s inclusion in the FTSE ADX Indices highlights its continual growth and stability. This acknowledgment is a result of the company’s robust financial performance and its ability to meet the stringent criteria set by the FTSE ADX Indices

The group recently began trading on the Abu Dhabi Securities Exchange (ADX) following a $370 million capital raise during our initial public offering that was 33 times oversubscribed.

tanvir@dubainewsweek.com

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