Bahrain’s Investcorp considers listing a special purpose acquisition company in the UAE: report – Arabian Business

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.