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00:00 The Abu Dhabi financial market is welcoming a new investor this time,
00:05 a specialist in the cryptocurrency and blockchain sector.
00:09 We are talking today about Phoenix, this new investor for the UAE market.
00:14 Therefore, we notice that this is the sixth time that the Abu Dhabi financial market has witnessed in 2023.
00:21 We stand by this proposal, which today is the date of the approval
00:25 in the fifth session of December, a proposal that was in the first sessions at 50 dirhams.
00:32 We noticed the range of acceptance and also the movements and the jump in the share price,
00:36 which reached close to 2.25 dirhams with rises exceeding 50%
00:42 What is special in this new approval is that it is the first entity owned by the private sector
00:48 in the field of cryptocurrencies, which is approved in stocks
00:52 and is considered a former in the Middle East.
00:55 We notice that this company is active in several fields, especially in blockchain and crypto.
01:02 In addition, it has data centers, cloud accounts, products, equipment and cryptocurrency encryption.
01:10 We also talk about the fact that there was a turn to several companies,
01:14 including the global holding company IHC, which also approved an agreement to buy a 10% share in Phoenix.
01:22 The company has several branches and also expansions in several markets,
01:25 not only in the Middle East and the UAE, but also in the United States and Canada,
01:30 and has nearly 29 subsidiaries.
01:33 We noticed that this proposal was strong and was accepted, and it was covered more than 33 times,
01:40 and thus raised nearly 1.3 billion dirhams.
01:46 There is a clear acceptance in the financial technology sector,
01:50 and it is a diversity of options for investors in financial markets, especially in the Abu Dhabi market.
01:58 The capital of Phoenix today is close to 604 million dirhams.
02:04 As for its profits, it was said that in the first nine months it exceeded $144 million.
02:11 We talk about a new entry in the Abu Dhabi financial market,
02:15 which is the sixth entry in the market in 2023.