SPACS to be listed on Swiss bourse from Dec. 6

Tuesday, 16. November 2021 10:10

Switzerland's stock exchange SIX will allow special purpose acquisition companies (SPACs) to be listed and traded from December 6, according to a statement released on Tuesday.

"It's positive for the Swiss financial center that FINMA, in cooperation with stock exchange operator SIX, is now enabling the listing of SPACs as a new alternative," noted Gregor Greber, co-founder of VERAISON Capital which planned to launch the first SPAC in the country.

According to Investopedia, a SPAC is a company that has no commercial operations and is formed to raise capital through an initial public offering (IPO) for the purpose of acquiring or merging with an already existing company.

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