Goldman Sachs is aiming to snare a bigger share of the booming number of Special Purpose Acquisition Company (SPAC) deals in Asia by having senior bankers specifically target these blank cheque transactions across the region. The initiative was put in place towards the end of last year - but has not been reported - when SPACs started taking off in Asia following rapid growth in these deals elsewhere, including in the United States. A SPAC typically raises money to acquire a private company with the purpose of taking it public, allowing such targets to move more quickly to the public markets than via a traditional initial public offering.
Goldman Sachs creates Hong Kong SPAC team for Asia deal surge
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CLOV CLASS ACTION ALERT: Kessler Topaz Meltzer & Check, LLP Reminds Clover Health Investments, Corp Shareholders of Securities Fraud Class Action Lawsuit
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Shuaa Capital board proposes first dividend post-merger on back of strong 2020
Jassim Alseddiqi, group chief executive officer of Shuaa Capital. Supplied photo
2020 results demonstrate both the resilience of Shuaa’s business model and the strong strategic progress it made against a backdrop of Covid-19 challenges.
Shuaa Capital has received board approval for its audited financial statements for the fiscal year ended 31 December, 2020 and its board has recommended the payment of the first dividend to shareholders since the merger in 2019, of 3 fils per share totalling Dh76 million.
Fadhel Al Ali, chairman of Shuaa Capital, said: “Shuaa has risen admirably to the challenges of 2020 and delivered a strong performance. We have remained focused on realising our growth strategy and the results are clearly evident in our FY 2020 performance, including our ability to pay our first dividend post-merger. What’s more, we are proud that Shuaa’s operations continue to support th
Helbiz, Inc. ("Helbiz"), a global micro-mobility leader, and GreenVision Acquisition Corp. ("GreenVision", Nasdaq: GRNV), a publicly traded special purpose acquisition company, today provided an update as they move forward with their merger. The companies announced that subscription agreements for a fully committed PIPE of $30 million have been executed. The financing, led by Helbiz’s existing shareholders Copernicus Wealth Management and Finbeauty SRL, is priced at $10 per unit, with a unit comprised of one share and one warrant to purchase one additional share of common stock at the exercise price of $11.50 per share. The PIPE investment is anticipated to close concurrently with the previously announced proposed business combination between Helbiz and GreenVision. Assuming no redemptions by GreenVision’s stockholders of the funds currently held in GreenVision’s trust account, the addition of the PIPE will result in a total equity investment of