Investors are showing increasing interest in new European special purpose acquisition companies (SPAC), Bloomberg writes. Former head of Credit Suisse Group AG Thijan Thiam raised $ 300 million for SPAC, which specializes in transactions in the financial industry, up from the initially planned $ 250 million. Investment Centricus, which helped Japan’s SoftBank in setting up the Vision Fund, held its first IPO in February in February. US $ 300 million, increasing the deal size by 20%. SPAC, led by former Deutsche Bank banker Gart Ritchie, has raised a total of $ 345 million following the exercise of the option. Former head of PJSC Megafon Ivan Tavrin has received bids from investors in the amount of more than $ 6 billion for his new SPAC, informed sources said. That’s more than 13 times the target demand for the two companies that began trading in New York in February. In December, former Barclays Plc banker Markam Azar increased the IPO of his SPAC to $ 300 million. The company is now targeting a takeover target among European tech and fintech startups. Avanti Acquisition Corp., created by Egyptian billionaire Nassef Sawiris and French entrepreneur Jan Gallienne, also increased the size of its IPO, which took place in October. SPAC ultimately raised $ 600 million for a potential purchase of a European family business. Despite the fact that more and more European companies are eager to participate in the US “boom” SPAC, their market share remains small. More than 200 shell companies have raised $ 60 billion in the US since the beginning of this year, according to Bloomberg, more than 70% of last year’s record. SPACs are called “shell companies” because they have no assets other than cash liquidity and do not operate. Such a company makes an IPO and then buys another firm, which gets SPAC’s listing. Source: FINMARKET.RU


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