Egypt’s first-ever SPAC will soon list on the stock exchange, the head of the country’s financial regulatory authority said, according to a report from Arab News.
Mohamed Omran said that the SPAC will be established no later than February.
Last November, the FRA announced the rules and regulations for listing securities on the Egyptian bourse. It also introduced an article that allows the registration of SPAC shares.
The authority approved setting a number of controls for targeted investment in line with the primary objective of establishing SPACs as a preferred method for many experienced founders and major shareholders. Read more.
