SPACs Look to India for Next Wave of Targets, Nomura Says
Blank-check companies are increasingly looking to India for acquisition targets, which will keep the country’s recent dealmaking streak going, according to Nomura Holdings Inc. ReNew Power last week agreed to merge with a U.S.-listed special purpose acquisition company in a deal that will give India’s biggest renewable power producer an enterprise value of $8 billion. […]
Mideast Spotify Challenger Anghami Is Said to Near SPAC Merger
Music streaming service Anghami is close to being listed on the Nasdaq stock exchange in New York by merging with a blank-check company, according to people familiar with the matter, setting the stage for one of the biggest investments into a Middle Eastern technology startup in years. Anghami, Arabic for “my tunes,” has been holding […]
London to Join SPAC Boom in Post-Brexit Market Overhaul
The U.K. is set to allow blank-check firms to join its stock markets as part of wide-ranging reforms to boost the attractiveness of London after Brexit. Company founders will also be able to keep greater control when they list their businesses in the city, according to a state-backed report published late Tuesday. London Stock Exchange […]
One of India’s biggest renewable energy groups joins Spac craze
ReNew Power, one of India’s largest renewable energy groups, plans to go public in New York through an $8bn deal with a blank cheque company, as Wall Street’s Spac craze reaches one of Asia’s biggest economies. The energy company, which counts Goldman Sachs among its backers, will list on the Nasdaq in a deal with […]
Will the London Stock Exchange follow the NASDAQ into promoting SPACs?
Special Purpose Acquisition Companies, otherwise known as SPACs, have seen intense investor interest in the past year. Now some major players in the UK financial markets are calling for a similar setup to take place on the London Stock Exchange. This could bring a much-needed boost to the UK capital markets. A SPAC allows a […]
Insurance IT firm CCC Information to go public via $7-bln SPAC deal
CCC Information Services said on Wednesday it was going public through a merger with blank-check firm Dragoneer Growth Opportunities Corp, in a deal that valued the data and technology provider to auto and insurance firms at about $7 billion. The deal is expected to fetch CCC Information $968 million, including a $150 million private investment from […]
Investors Can’t Get Enough of Europe’s New SPAC Kingpins
Investors are rushing to back Europe’s emerging SPAC stars, from ex-Credit Suisse Group AG boss Tidjane Thiam to former Deutsche Bank AG dealmaker Garth Ritchie. Thiam raised $300 million for a special purpose acquisition company focused on deals in the financial industry, up from an initial $250 million target, according to a statement Friday. He […]
A Flood of SPAC Money Will Take You Out Of Your Car And Into The Air
What a start to the year. In less than two months, 171 special purpose acquisition companies have gone public in offerings that have raised $53.3 billion. That’s three times the number and over 2.5 times the value of the traditional IPO market. Even celebrities like Shaquille O’Neal, Paul Ryan and Alex Rodriguez have gotten into […]
Gaw Capital Said to Weigh $200 Million SPAC for Asia Tech Deals
Gaw Capital Advisors is considering raising at least $200 million through a special purpose acquisition company in the U.S., according to people familiar with the matter. The buyout firm plans to set its sights on technology firms in Asia for targets of the proposed blank-check company, said the people, who asked not to be identified […]
Lucid dream deal turns Klein’s $43 million investment into $3.3 billion windfall
Veteran dealmaker Michael Klein and his partners have made a paper gain of nearly $3.3 billion on their $43 million personal investment in the blank-check acquisition firm they are merging with luxury electric vehicle startup Lucid Motors Inc, according to Reuters calculations. Many mom-and-pop investors bought Churchill Capital IV shares hoping for a quick gain, […]
