SPAC) transactions are set to become more common in the Middle East as an alternative to the longer initial public offering (IPO) process, according to Ernst and Young, Arabian Business reports.
While IPO activity during the first half of 2021 was below expectations, Middle East-based companies showed an increasing interest in SPAC deals as a means to go public, said Gregory Hughes, EY MENA IPO and transaction diligence leader.
MENA companies have traditionally found it difficult to access US markets through the official IPO route, but SPACs have eased the accessibility and deepened the capital raising pool for these companies. Read more.
