Listing Segment News Today

Introduction – what are SPACs? A Special Purpose Acquisition Company, or ‘ SPAC,’ is a company created with cash only for the purpose of acquiring one or more businesses (the UK ‘blank-check company’ is very similar). SPACs are incorporated by a team of sponsors and initially raise capital through the public markets more quickly than a traditional IPO. Once capital has been raised, the sponsors seek to identify one or more private companies to purchase. The sponsors will generally tar...

To embed, copy and paste the code into your website or blog: Lord Hill today published his recommendations following the UK Listings Review Call for Evidence in November 2020. The recommendations cover the Listing Rules applicable to Special Purpose Acquisition Companies (SPACs), which were not the subject of a specific question in the Call for Evidence. In particular, the report recommends the removal of the presumption that trading in a SPACs shares should be suspended on announcement of an a...