ADQ and Chimera Investments partner to launch UAE’s first SPAC on ADX

ADQ and Chimera Investments partner to launch UAE’s first SPAC on ADX

ADC was established by ADQ, through its Alpha Oryx special purpose vehicle, and Chimera Investments as a SPAC for the purpose of identifying and combining one or more businesses. In its search for acquisition opportunities, ADC intends to identify scalable businesses with strong management teams.

The launch of ADC will offer target businesses an opportunity to access capital in Abu Dhabi’s capital markets through a faster, less expensive alternative to the traditional IPO method. These companies will also benefit from access to the extensive, multi-sector expertise and combined network brought by ADQ and Chimera Investments.

ADC will be led by an accomplished board and management team with a strong reputation in the industry and a wide range of complementary knowledge and skills. H.E. Mohamed Hassan Alsuwaidi, Managing Director and CEO of ADQ, will be Chairman of ADC. Syed Basar Shueb, Chairman of Chimera Investments, will be Vice Chairman of ADC.

H.E. Mohamed Hassan Alsuwaidi, Managing Director and CEO of ADQ and Chairman of ADC, stated: “We have partnered with Chimera Investments to launch ADC Acquisition Corporation, a SPAC aiming to target companies in the MENA region that are fast-growing, technology-driven businesses with strong management teams and attractive valuations. Through ADC, we are creating