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

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Abu Dhabi - United Printing and Publishing Sole Proprietorship (UPP) has unveiled its new brand identity E7 Group after it completed the merger with the listed ADC Acquisition Corporation, according to a press release.

The completion of the business combination resulted in AED 1.10 billion of cash that was transferred to the merged entity, which is the region’s first special purpose acquisition company (SPAC), to accelerate E7’s growth strategy.

The new brand identity commenced trading on Abu Dhabi Securities Exchange (ADX) under the new ticker symbol E7 on 23 November 2023.

CEO of E7 Group, Ali Saif Ali Abdulla Alnuaimi, said: “Our new corporate identity reaffirms our aspiration to become a leading national industrial champion.”

Alnuaimi added: “As we transition to E7, we carry forward these values, preparing to embark on an exciting new chapter of innovation and growth as a listed company.”

It is worth noting that ADC, which will be trading under the brand E7 on ADX, obtained AED 734 million from the private investment in public equity (PIPE) bookbuild following the announcement of the merger transaction.