ADC Acquisition Corporation P.J.S.C. announced a private placement of 73,400,000 new Class A common shares at a price of AED 10 per share for the gross proceeds of AED 734,000,000 on September 19, 2023. The company has raised the money with total gross demand in excess of AED 8,000,000,000, implying an oversubscription of over 10 times. The transaction included participation from qualified and institutional investors.