• Latest
  • Trending
SPACs On their way to UK

SPACs On their way to UK

US FAA shifts gears on certifying future flying taxi pilots

US FAA shifts gears on certifying future flying taxi pilots

Ford sells shares in EV maker Rivian for $214 MLN

Ford sells shares in EV maker Rivian for $214 MLN

Fed’s Waller says now is the time to hit it on raising rates

Fed’s Waller says now is the time to hit it on raising rates

All the best is yet to come in Singapore: Blockchain Fest 2022

All the best is yet to come in Singapore: Blockchain Fest 2022

Swiss companies are not hoarding cash

Swiss press freedom dealt blow in bid for overhaul of bank secrecy rules

US removes Xiaomi from blacklist, reversing late China Jab by Trump

Xiaomi accuses Indian agency of physical violence threats

AIG profit beats estimates on strong underwriting gains

AIG profit beats estimates on strong underwriting gains

Meta to start testing money making tools

Meta opens access to AI large language model

Now You Can Trade Multiple Assets with Fullerton Markets

Now You Can Trade Multiple Assets with Fullerton Markets

Airbnb bets on summer of travel to drive revenue growth

Airbnb bets on summer of travel to drive revenue growth

Lifting the veil of Blockchain Fest 2022 – Cyprus

Lifting the veil of Blockchain Fest 2022 – Cyprus

Intesa CEO says committed to 2022-2025 plan’s goals

Intesa CEO says committed to 2022-2025 plan’s goals

Global Business Review Magazine
Tuesday, May 17, 2022
Nominate Here
  • Home
  • Banking
  • Finance
  • Technology
  • FinTech
  • Business
  • Videos
  • Events
  • Awards
  • Magazine
No Result
View All Result
Global Business Review Magazine
No Result
View All Result

SPACs On their way to UK

SPACs On their way to UK

When the Financial Conduct Authority (FCA) made substantial changes to its rulebook last year in order to attract a slice of the SPAC (special purpose acquisition company) action, many of them thought that it could be a game changer. There was enough support for the move from those looking to sink money into SPACs. It was easy to see both the appeal of SPACs and the aims of those looking to see them become a possibility in the UK.

Operating the institutional equivalent of a blank cheque, a SPAC is a company formed with the express purpose of raising money. SPACs were attracting ever higher levels of investment in the US. This prompts the envious glances from this side of the Atlantic. But in 2022, the UK has only seen one SPAC so far, with little sign of there being more in the pipeline. The SPAC bubble burst before it could land in the UK? Which is doubtful. The obvious enthusiasm for SPACs has not evaporated. It could be argued that some of the UK’s regulations remain more rigid than those in other countries. The rise of SPACs in the UK was always likely to gather momentum gradually rather than being a sprint.

YOU MAY ALSO LIKE

Fed’s Waller says now is the time to hit it on raising rates

AIG profit beats estimates on strong underwriting gains

The requirement for shares of a listed company to be suspended when a reverse takeover becomes widely known about. It reduced its proposed £200 million minimum for SPAC fundraising to £100 million. It also protected investors by giving them rights to redeem funds. Limits were also introduced on how long a SPAC would have to complete a deal. The FCA may have wanted a well-managed gold rush. London has not yet become a magnet for SPACs. The UK’s restrictions on what a SPAC’s creators and its initial, major investors can do may also be more attractive. Time will only tell if it has gone about this in the right way.

The UK is still an international hub for financial markets. It sets out its SPACs stall. They are now in a period where what is on that stall is being assessed by those who are considering if, when and where they should conduct SPAC activities. There have been plenty of headlines in the past year or two. It could be some time before such things become regular occurrences. The takeovers that emphasise the value of particular SPACs and the success of a country do not happen overnight. The FCA and those it regulates may already be looking eagerly for the first signs of a new, SPAC-inspired financial dawn. However, it could be some time before they know for certain whether that dawn is a real or false one.

Tags: financeFinancial Conduct AuthoritySPAC
ShareTweetShare
Global Business Review Magazine

Global Business Review is a online print magazine focusing on the updates and information about on emerging markets, Finance, Banking, Technology. Global Business Review provides news, features, analysis, commentary, and interviews from industry across the globe.

Recent News

  • US FAA shifts gears on certifying future flying taxi pilots
  • Ford sells shares in EV maker Rivian for $214 MLN
  • Fed’s Waller says now is the time to hit it on raising rates
  • All the best is yet to come in Singapore: Blockchain Fest 2022
  • Swiss press freedom dealt blow in bid for overhaul of bank secrecy rules

Categories

  • Banking
  • Business
  • Events
  • Finance
  • FinTech
  • Tech
  • Videos
  • About
  • Nominate
  • Privacy & Policy

© 2022 Global Business Review Magazine - All Rights Reserved.

No Result
View All Result
  • Home
  • Banking
  • Finance
  • Technology
  • FinTech
  • Business
  • Videos
  • Events
  • Awards
  • Magazine

© 2022 Global Business Review Magazine - All Rights Reserved.

Go to mobile version