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FinancialNews
13-02-22
Special purpose acquisition companies could reform Gulf stock exchanges
(MENAFN) SPACs might reform Gulf stock exchanges, bringing together sharp-minded stockholders and turbulent unicorns.
During the previous week, Abu Dhabi’s financial market, also referred to as ADX, announced its first SPAC outline, digging the path for these kinds of companies to inaugurate on the stock exchange.
A SPAC, also referred to as a blank check firm, is a special purpose acquisition company that goes public in spite of not having any real businesses. It collects money from stockholders to purchase another firm, but funders may not essentially identify the name of a precisely aimed company, just general parts the purchasing firm is interested in purchasing into.
MENAFN13022022000045013568ID1103686788
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