SPACs may reshape Gulf financial markets, bring-ing together savvy investors and disruptive startups.
Last week, Abu Dhabi’s stock exchange, known as ADX, introduced its first SPAC framework, paving the way for these types of firms to launch on the bourse.
A SPAC, also known as a blank check company, is a special purpose acquisition company that goes public despite having no real business. It raises money from investors to buy into another company, but backers may not necessarily know the name of a specifically targeted firm, just general areas the acquisition company is interested in buying into.—AN
