The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

After a wild year, Spacs are growing up

boy-height-blackboard-istock-960x535.png

The volatility of 2020 has pushed listings of special purpose acquisition companies to record levels. But the gradual shedding of their fly-by-night reputation is also driving the surge.

Fear and exuberance are rarely parcelled out rationally. Having fallen more than 80% in the year to December 2018, Bitcoin has since risen 450% to a record of nearly $20,000 on November 30, 2020.

But after a year in which IPOs of special purpose acquisition companies (Spacs) leapt to a record level, it is these vehicles that often get the bad press.

Companies that Spacs merge with are sneaking onto public markets without due process, goes one argument. Sponsors are taking all the juice for themselves at the cost of unwary retail investors, goes another.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

Tags

Mark Baker is Deputy Editor. Prior to joining Euromoney magazine he was based in Hong Kong as managing editor, Asia, for the Capital Markets Group. He previously edited EuroWeek magazine and was also deputy editor at International Financing Review.
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree