The UAE has approved the first SPAC regulatory framework for the Gulf Cooperation Council (GCC) region, following record activity for this funding approach over the last two years, IR Magazine reports.
The Securities and Commodities Authority, the UAE’s market watchdog, says the framework paves the way for the first SPAC listing on the Abu Dhabi Securities Exchange later this year.
“Benchmarked and assessed against best-in-class US and international SPAC regulations, the robust framework will provide international investors with access to unique growth opportunities,” notes an announcement released by the Abu Dhabi government media office. Read more.
