Sing Along to the SPAC Song

Pershing Square SPARC will seek to invest between $250 million and $3.5 billion into a target company.

Established in 2013, Zoomcar allows users to rent cars by the month, week, day or even hour.

Market swings this week highlighted the competing dynamics playing out in financial markets as the economy rebounds from shutdowns designed to halt the spread of the coronavirus, the Wall Street Journal reports.

As well as private companies, sovereign wealth funds in the Middle East — including Saudi Arabia’s Public Investment Fund (PIF) and Abu Dhabi’s Mubadala — have also made use of SPACs.