SEPACS to be granted on Swiss bourse from Dec. 6

SEPACS to be granted on Swiss bourse from Dec. 6 ...

The Swiss bourse SIX said that special purpose acquisition companies can be listed and traded on Switzerland's exchange from Dec. 6 on Tuesday.

SPACs are shell firms that raise funds through an initial public bid, which becomes public and then transforms to alternative companies and is allowing more certainty in terms of the valuation.

The Swiss Financial Market Supervisory Authority (FINMA) had demanded to the bourse operator SIX to amend its listing rules for SPACs before introducing a new financing instrument.

SIX said this year, there were now a number of cases in which the authorisation is obtained from all relevant authorities.

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