Bahrain’s Investcorp considers listing a special purpose acquisition company in the UAE: report – Arabian Business
- Date: 23-May-2022
- Source: Arabian Business
- Sector:Financial Markets
- Country:Bahrain
Bahrain’s Investcorp considers listing a special purpose acquisition company in the UAE: report – Arabian Business
Bahrain-based asset manager Investcorp is considering listing a special purpose acquisition company (SPAC) in the UAE, boosting momentum for the Middle East’s nascent blank-check market, according to a recent Bloomberg report.
SPACs are cash shell companies that raise money from investors in an initial public offering with the sole purpose of buying a private business within a specified time frame, typically about two years.
Investcorp, which has previously backed luxury brands Tiffany & Co. and Gucci Ltd., is working with banks including Moelis & Co on setting up a regional SPAC that could raise as much as $250 million.