U.K.’s SPAC Market Rouses From Its Slumber
- Spinnaker, year’s first U.K. blank-check IPO, jumps in debut
- Regulator clears way for larger SPACs as U.S. frenzy cools
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Almost eight months into 2021, the London Stock Exchange finally has its first listing of a special-purpose acquisition company for the year. The deal is likely to be a harbinger of more, bigger offerings to come.
The tiny blank-check firm, Spinnaker Acquisitions Plc, surged as much as 25% Wednesday after raising 2 million pounds ($2.77 million).