Bahrain-based alternative investment firm Investcorp has listed its inaugural special purpose acquisition company (Spac) on Nasdaq in the US.
Investcorp Europe Acquisition completed its initial public offering on December 17 2021.
Spacs, also known as blank cheque companies, have become a popular way for private equity firms to fund their acquisitions.
“Investcorp Europe Acquisition Corp I marks our entry into the Spac market, and while this may be a new investment vehicle for us, the overall strategy fits our deal making heritage very well,” said Investcorp executive chairman, Mohammed Alardhi.
While the US remains the biggest market for these vehicles, a number of Mena-based firms are getting involved.
Earlier in March, Dubai-based Shuaa Capital listed a $100 million Spac on Nasdaq Global Market.
And in January, the Abu Dhabi Securities and Commodities Authority (SCA) approved a regulatory framework for Spac listings in a bid to establish itself as the regional hub for the vehicles.
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