While the unprecedented growth of SPAC’s have primarily been centered in the US, a growing number of Asia based sponsors are backing SPACs which have broader implications for the US economy, and this growing new ecosystem, Forbes reports.
More than $115.6 billion has been raised via more than 400 SPAC companies in 2021, mainly on Wall Street where SPACs make up two thirds of all IPOs, although activity has slowed as regulatory and valuation concerns have increased. In contrast, a total of $1.18 billion has been raised in 2021 via six SPACs by emerging market issuers, including two apiece from Israel and China. This is just a fraction of the $96.3 billion raised via traditional IPOs from emerging markets, based on Refinitiv data. Read more.
