State-backed ADQ, Chimera Capital set up Abu Dhabi's first SPAC

State-backed ADQ, Chimera Capital set up Abu Dhabi's first SPAC

Abu Dhabi, United Arab Emirates. Photo by Nick Fewings on Unsplash

Abu Dhabi state holding firm ADQ and investment firm Chimera Capital have set up a blank-check company that will raise 367 million dirhams ($99.93 million) and list in the capital, according to a statement on Tuesday.