The blank check boom on Wall Street is unlikely to be replicated in London, according to an executive at the UK’s top financial watchdog, even as it consults on liberalising rules for special purpose acquisition companies, Private Equity News reports.
SPACs are likely to remain a “relatively minor part of the overall listed market”, the Financial Conduct Authority’s director of market oversight, Clare Cole, told Private Equity News’ sister publication Financial News.
European exchanges are battling to gain an edge over rivals as the explosion of Spac initial public offerings in the US starts to move across the pond. London has lagged other locations including Amsterdam and Frankfurt, which have attracted the handful of banner European SPACs to list this year. Read more.
