ADC Acquisition, the UAE’s first SPAC, completed its announced business combination with United Printing & Publishing Sole Proprietorship. The transaction has received all requisite regulatory approvals. The completion of the transaction represents the first-ever successful SPAC merger in the region.
New shares of ADC issued as part of the PIPE transaction will be listed and will trade on the Abu Dhabi Securities Exchange on Nov. 9, Zawya reports.
UPP is an Abu Dhabi-based secure printing, commercial printing, and last mile delivery business, with a recently launched packaging segment. ADC has raised AED 1.1 billion of growth capital, including AED 734 million from a PIPE transaction. Read more.
