Spacs are so-called blank-check companies that have no other business than to raise money in a listing and to acquire assets within two years.
They have boomed this year and other public figures to embrace the craze include former Cosmopolitan editor Joanna Coles, as well as US sports stars Alex Rodriguez and Shaquille O’Neal.
The Spac marks a comeback for Davis, who served as the Conservative Party’s treasurer and then chief executive between 2016 and 2019.
His previous acquisition vehicle X2 raised $4billion but failed to seal the big takeovers he had hoped for and it was wound down in 2016 with investor money returned.
China search engine Baidu aims to raise $3bn in Hong Kong listing msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Temasek Holdings promises $500milion to impact investment firm LeapFrog PUBLISHED BY
Temasek Holdings has agreed to invest $500 million in private equity firm
LeapFrog Investments, the largest such commitment in an impact internment company. The $214 billion Singapore state-backed investment company will also gain a minority stake in the company. The partnership will be a multi-fund investment by Temasek to help LeapFrog further its Asia and Africa funds.
Impact or socially responsible investing has gained a lot of attention in recent times with big investment institutions and financial entities such as TPG, KKR and Blackstone showing interest.
“There is an urgent and pressing need to address the critical social and environmental challenges that the world is facing,” said Benoit Valentin, head of impact investing at Temasek.
Ride-hailing firm Grab is reportedly in talks about going public through what would be the biggest SPAC deal ever signed. The post Ride-hailing giant Grab reportedly in talks over $40bn SPAC deal appeared first on CityAM.