SIX Allows Listing and Trading of SPACs
- A SPAC is a shell company formed for the sole purpose of a merger with an operational company.
The SIX Swiss Exchange announced on Tuesday that it will allow the listing and trading of special purpose acquisition companies (SPACs) from December 6.
SPACs are shell companies listed on the stock exchanges with the only purpose of merging with an operational company to ease the latter’s public listing. The company raises money through a traditional initial public offering (IPO) and then utilizes the proceeds for the targeted acquisition.
Commenting on the move, Christian Reuss, the Head of SIX, said: “The SPAC listing standard will complement our ongoing efforts to offer new products and services for current and future issuers. For companies that are ready to go public, SPACs provide an additional option to do so.”
Additionally, the Swiss Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term has published a set of regulatory specifications for the SPAC listings and assured that it is upholding an appropriate degree of investor protection.
SPACs Are in Demand
Moreover, the official announcement has detailed that only stock corporations under Swiss law can be listed as SPAC, and they will have a maximum of three years for a merger with another operational company. In addition, SPACs can offer convertible bonds instead of shares to the investors.
The Swiss exchange brought forward SPACs when demand for the backdoor public listing of companies is soaring. These vehicles became very popular in the United States as many established companies have preferred the SPAC merger to go public.
Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term companies like Payoneer, SoFi and Bakkt have taken the SPAC route to recently list themselves on American exchanges, while other popular trading platforms like eToro, TradeZero and TradeStation have inked deals with SPAC companies to become public companies.
The SIX Swiss Exchange announced on Tuesday that it will allow the listing and trading of special purpose acquisition companies (SPACs) from December 6.
SPACs are shell companies listed on the stock exchanges with the only purpose of merging with an operational company to ease the latter’s public listing. The company raises money through a traditional initial public offering (IPO) and then utilizes the proceeds for the targeted acquisition.
Commenting on the move, Christian Reuss, the Head of SIX, said: “The SPAC listing standard will complement our ongoing efforts to offer new products and services for current and future issuers. For companies that are ready to go public, SPACs provide an additional option to do so.”
Additionally, the Swiss Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term has published a set of regulatory specifications for the SPAC listings and assured that it is upholding an appropriate degree of investor protection.
SPACs Are in Demand
Moreover, the official announcement has detailed that only stock corporations under Swiss law can be listed as SPAC, and they will have a maximum of three years for a merger with another operational company. In addition, SPACs can offer convertible bonds instead of shares to the investors.
The Swiss exchange brought forward SPACs when demand for the backdoor public listing of companies is soaring. These vehicles became very popular in the United States as many established companies have preferred the SPAC merger to go public.
Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term companies like Payoneer, SoFi and Bakkt have taken the SPAC route to recently list themselves on American exchanges, while other popular trading platforms like eToro, TradeZero and TradeStation have inked deals with SPAC companies to become public companies.