United Printing rebrands as E7 Group following ADC merger; listing commences

Abu Dhabi – United Printing and Publishing Sole Proprietorship (UPP) has unveiled its new model identification E7 Group after it accomplished the merger with the listed ADC Acquisition Company, in response to 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 function acquisition firm (SPAC), to speed up E7’s development technique.

The brand new model identification commenced buying and selling on Abu Dhabi Securities Alternate (ADX) underneath the brand new ticker image E7 on 23 November 2023.

CEO of E7 Group, Ali Saif Ali Abdulla Alnuaimi, stated: “Our new company identification reaffirms our aspiration to turn out to be a number one nationwide industrial champion.”

Alnuaimi added: “As we transition to E7, we supply ahead these values, making ready to embark on an thrilling new chapter of innovation and development as a listed firm.”

It’s value noting that ADC, which will likely be buying and selling underneath the model E7 on ADX, obtained AED 734 million from the non-public funding in public fairness (PIPE) bookbuild following the announcement of the merger transaction.

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