Switzerland is getting in on the boom of SPAC listings, just as the hype around the special-purpose vehicles is fading.
Swiss stock exchange SIX has received approval from the Swiss regulator Finma to trade and list special purpose acquisition companies, or SPACs, from next month, it said in a statement on Tuesday.
The approval follows months of behind-the-scenes deliberation between the SIX and Finma. In the meantime, much of the hype surrounding shell companies, which reached a temporary peak in the first quarter of this year, has faded.
First Listing
The new listing standard for shell companies on the stock exchange is tailored to the special characteristics of these vehicles and has an «appropriate degree» of investor protection, the exchange said.
Gregor Greber's SPAC project, VT5, could be an early contender for a SIX listing. In response to an enquiry by finews.com, the Swiss activist investors said: «We at VT5 have taken note of the decision. We will carefully evaluate the details of the regulation in the next few days.»
