SPACS will be listed on the Swiss stock exchange from December 6 by Reuters
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ZURICH (Reuters) – Special Purpose Purchasing Companies (SPACS) may be listed on the Swiss stock exchange from December 6, the Swiss stock exchange SIX said on Tuesday.
SPACs are male companies that raise funds through an initial public offering to acquire a private company, which then becomes public. It serves as an alternative for companies wishing to enter public markets and provides more certainty as to the valuation they may receive in the deal.
Earlier this year, the Swiss Financial Markets Supervisory Authority (FINMA) asked stockbroker SIX to review the rules listed in the SPAC before introducing a new financing instrument.
The SIX said they had obtained the permission of all the relevant authorities.
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