Abu Dhabi – United Printing and Publishing Sole Proprietorship (UPP) has unveiled its new model id E7 Group after it accomplished the merger with the listed ADC Acquisition Company, based on a press launch.
The completion of the enterprise mixture resulted in AED 1.10 billion of money that was transferred to the merged entity, which is the area’s first particular goal acquisition firm (SPAC), to speed up E7’s progress technique.
The brand new model id commenced buying and selling on Abu Dhabi Securities Trade (ADX) underneath the brand new ticker image E7 on 23 November 2023.
CEO of E7 Group, Ali Saif Ali Abdulla Alnuaimi, mentioned: “Our new company id reaffirms our aspiration to develop into a number one nationwide industrial champion.”
Alnuaimi added: “As we transition to E7, we feature ahead these values, getting ready to embark on an thrilling new chapter of innovation and progress as a listed firm.”
It’s value noting that ADC, which will probably be buying and selling underneath the model E7 on ADX, obtained AED 734 million from the personal funding in public fairness (PIPE) bookbuild following the announcement of the merger transaction.
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