As the blank-check market cools stateside, Pakistan’s security regulators are said to be considering SPACs. reports PT Profit.
The Securities and Exchange Commission of Pakistan (SECP) is mulling to introduce the concept of SPACs, the news organzization reports.
Under the proposed regulatory framework, the SPAC would be registered with the SECP. The SPAC would be required to raise at least Rs200 million (US $1.3 million) through a public offering. The acquisition would have to be completed within two years with at least 90 percent of the IPO funds raised kept in an escrow account. Read more.
