Nigeria is considering SPAC listings on its exchange, following the issuance of rules for blank-check firms to follow.
A SPAC IPO issue size cannot be less than N10 billion (about US$13 million). IPOs would be open at least three but not more than 10 business days, Tekedia reports.
“Any compensation to be enjoyed by the promoter/management team, both in terms of quantum and timing, shall not be disproportionate to the expected shareholder value creation and the timing of such value creation,” the rules also state. Read more.
