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.

Related Links: 
Author:
Baha Breaking the News (BBN) / ND