Middle Eastern businesses are increasingly making use of SPACs as an alternative route to public listing, a ccording to a report by Ernst & Young, Arab News reports.
The analysis shows a rise in activity involving SPACs and MENA-based firms.
As well as private companies, sovereign wealth funds in the Middle East — including Saudi Arabia’s Public Investment Fund (PIF) and Abu Dhabi’s Mubadala — have also made use of SPACs, with PIF investing $75 million in NYSE-listed Compute Health in February. Read more.
