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SPAC

Eni talking to investors on energy transition SPAC

MILAN: Eni is testing investor appetite for a special purpose acquisition company (SPAC) dedicated to energy...

Published 11 Feb, 2022 04:31am

Pakistan

Registration with SECP: SPAC required to have paid-up capital of Rs10m

ISLAMABAD: The special purpose acquisition company (SPAC) is required to have a paid-up capital of at least Rs 10...

Published 17 Dec, 2021 04:30am

Business & Finance

BuzzFeed to go public after raising less money than expected

NEW YORK: American digital company BuzzFeed, known for its viral content and journalism, will go public on Monday...

Published 06 Dec, 2021 06:19am

Business & Finance

Trump media venture says it has $1bn investment pledge

NEW YORK: Donald Trump’s fledgling social media venture and an investment vehicle it is partnering with said...

Published 06 Dec, 2021 06:19am

Opinion

Europe's IPO market roars back to life but where are the SPACs?

European stock market listings have come back with a bang after the summer lull but blank cheque firms are nowhere ...

Published 28 Sep, 2021 05:12am

Raising money for entering into M&A deals: Rs10m minimum paid-up capital fixed for PLCs to work as SPAC

ISLAMABAD: The Federal Board of Revenue (FBR) has fixed a minimum paid-up capital of Rs10 million for public limited...

Published 28 Sep, 2021 05:12am

Pakistan

Introduction of SPAC: SECP amends Public Offering Regulations, 2017

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has amended the Public Offering Regulations,...

Published 22 Sep, 2021 03:48am

Business & Finance

Forbes media group to list shares, raises $400m

WASHINGTON: Forbes, the media group known for its long-running business magazine, said Thursday it would become a...

Published 27 Aug, 2021 04:52am

Technology

Mystery of space inspired New Zealand rocket man's journey to Nasdaq

Rocket Lab agreed in March to go public through a merger with a blank-check firm backed by private equity firm Vector Capital

Published 26 Aug, 2021 11:45am

Business & Finance

Malaysia’s AirAsia targets $300m raise via US listing of digital business

KUALA LUMPUR: Malaysia’s low-cost airline AirAsia Group Bhd is considering a listing of its digital arm via a...

Published 08 Jul, 2021 04:22am

Business & Finance

Five EV Startups lose over $40 billion after merger with SPACs for public listing

During their high, the EV firms, Nikola Corp., Fisker Inc., Lordstown Motors Corp., Canoo Inc., and Arrival Ltd. were worth $60 billion combined.
They have since lost $40 billion of market capitalization.

Updated 14 May, 2021 07:10pm

Business & Finance

SECP introduces concept of Special Purpose Acquisition Company

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has introduced the concept of Special Purpose...

Published 13 May, 2021 03:10am

Markets

Institutional investors add risk; outlook more positive for 2021

LONDON: A rotation by sovereign wealth funds and other institutional investors to add risk since the COVID-19...

Updated 10 May, 2021 10:21am

Opinion

Grab’s Nasdaq debut to test its $40bn valuation, set roadmap for SPAC hopefuls

Singapore’s Grab more than doubled its valuation to $40 billion in about a year as part of the world’s largest...

Published 29 Apr, 2021 03:52am

Business & Finance

Adam Neumann's final WeWork act: helping SoftBank's SPAC deal

Neumann was locked in a fierce legal battle at the time with SoftBank over a $3 billion deal for a portion of his and other investors' stake in the office space-sharing company.
Ranadivé's SPAC had been looking for an acquisition target after raising $420 million in an IPO in August.

Published 29 Mar, 2021 07:04pm

Markets

Didi leans towards NY for IPO, eyes valuation of at least $100bn

HONG KONG: China’s top ride-hailing firm Didi Chuxing is leaning toward picking New York over Hong Kong for its...

Published 29 Mar, 2021 06:05am

Business & Finance

WeWork takes SPAC route to go public in $9bn deal

It marks a steep drop from the $47 billion that WeWork was valued for a listing in 2019, ahead of a botched listing plan that imploded due to investor concerns over its business model and its founder Adam Neumann's management style.
The startup told prospective investors it lost about $3.2 billion last year as part of a pitch for a stock market listing by merging with a special purpose acquisition company.

Published 26 Mar, 2021 06:15pm

Business & Finance

Brazil's Patria to launch $250mn SPAC

Patria, which has Blackstone Group Inc among its investors, said on Friday its executive officers may sponsor the blank-check company Patria Acquisition Co, based in the Cayman Islands, with roughly $92 million.
JPMorgan & Chase is the sole underwriter for the offering.

Published 22 Mar, 2021 08:44pm

Markets

KKR-backed SPAC raises $1.2bn in US IPO

The special purpose acquisition company (SPAC) said it sold 120 million units, up from the 100 million units it had marketed earlier, at $10 each.
The units are expected to begin trading on the New York Stock Exchange under the symbol "KAHC.U" on Wednesday.

Published 17 Mar, 2021 06:08pm

Markets

Former Commerzbank CEO launches fintech SPAC in Amsterdam

The SPAC of Blessing, a former co-president of UBS' Global Wealth Management unit, comes on the heels of former UniCredit boss Jean-Pierre Mustier's announcement to list a shell company in Europe.

Published 15 Mar, 2021 02:57pm

Business & Finance

Walmart's Flipkart in early talks for US listing via SPAC deal

The talks for a deal with a special purpose acquisition company (SPAC) are at a very early stage and could fall apart as no plans have been finalized yet, said the people, who declined to be named as the information is confidential.
India's largest renewable energy firm ReNew Power last month struck a deal with a blank-check company to go public in the United States, while SoftBank-backed online grocery startup Grofers has also held talks with SPACs.

Updated 04 Mar, 2021 09:51pm

Business & Finance

Data center firm Cyxtera to go public via $3.4bn deal with Starboard SPAC

As part of the deal with Starboard Value Acquisition Corp , Cyxtera will receive $654 million, including $250 million from private investors such as Fidelity Management & Research Company LLC and clients of Starboard.
Cyxtera operates around 61 data centers across the globe and counts nearly 2,300 organizations among its customers.

Published 22 Feb, 2021 06:46pm

Markets

Alec Gores, Guggenheim-backed SPAC seeks to raise $750 million via IPO

Gores Guggenheim, co-sponsored by Gores Group LLC and Guggenheim, said it plans to sell 75 million units composed of shares and warrants, priced at $10 per unit on the Nasdaq Capital Market.
Another Gores-backed SPAC, Gores Holdings VI Inc, earlier this month agreed to take 3D camera maker Matterport Inc public for $2.9 billion.

Published 22 Feb, 2021 06:04pm

Markets

AmTrust CEO-backed SPAC files for $300mn IPO

Pine Technology Acquisition Corp said it plans to sell 30 million units, made up of shares and warrants, priced at $10 per share on the Nasdaq Capital Market.
SPACs are shell companies that raise funds through an IPO to acquire a private company, which becomes public as a result of the merger.

Published 19 Feb, 2021 05:15pm

Business & Finance

Wall Street's SPAC craze scales new heights with record filings

The 28 filings for new special purpose acquisition companies (SPACs) underscore their growing appeal on Wall Street. SPACs raised a record $82 billion last year, and the trend has gathered further steam in the early weeks of 2021.

Published 13 Feb, 2021 10:20am

Business & Finance

Profits aside, GM's EV plans are driving a now-rising stock

Also boosting GM's stock was Microsoft Corp's investment last month in Cruise, the self-driving business in which GM holds a controlling stake. The Cruise business went from a $19 billion valuation to $30 billion with that deal, supercharging expectations.

Published 10 Feb, 2021 11:21am

Gainers
Losers
Leaders

Stock	Price
Chakwal Spinning / Dec 11 Chakwal Spinning Mills Limited(CWSM)	3.35 ▲ 1.00 (42.55%)
First Elite Cap.Mod / Dec 11 First Elite Capital Modaraba(FECM)	6 ▲ 1.00 (20.00%)
Dar-es-Salaam / Dec 11 Dar-es-Salaam Textile Mills Limited(DSML)	8.49 ▲ 1.00 (13.35%)
Power Cem(Pref) / Dec 11 Power Cement (Pref)(POWERPS)	9.35 ▲ 1.00 (11.98%)
Nazir Cotton Mills / Dec 11 Nazir Cotton Mills Limited(NCML)	4.20 ▲ 0.40 (10.53%)
Silk Bank Ltd / Dec 11 Silkbank Limited(SILK)	1.21 ▲ 0.11 (10.00%)
Treet Corp. (R) / Dec 11 Treet Corporation Limited (R)(TREETR2)	4.30 ▲ 0.38 (9.69%)
Kohinoor Spining / Dec 11 Kohinoor Spinning Mills Limited(KOSM)	4.56 ▲ 0.37 (8.83%)
Tri-Star Mutual / Dec 11 Tri-Star Mutual Fund Limited(TSMF)	5.48 ▲ 0.42 (8.30%)
Hascol Petrol / Dec 11 Hascol Petroleum Limited(HASCOL)	7.66 ▲ 0.55 (7.74%)

Stock	Price
Sec. Inv. Bank / Dec 11 Security Investment Bank Limited(SIBL)	4.88 ▼ -0.86 (-14.98%)
Trust Mod. / Dec 11 Trust Modaraba(TRSM)	1.80 ▼ -0.20 (-10.00%)
Next Capital / Dec 11 Next Capital Limited(NEXT)	6 ▼ -0.60 (-9.09%)
Asim Textile / Dec 11 Asim Textile Mills Limited(ASTM)	11.50 ▼ -0.98 (-7.85%)
Crescent Fib. / Dec 11 Crescent Fibres Limited(CFL)	74.02 ▼ -6.00 (-7.50%)
Olympia Mills / Dec 11 Olympia Mills Limited(OML)	14.80 ▼ -1.20 (-7.50%)
Sunrays Textile / Dec 11 Sunrays Textile Mills Limited(SUTM)	111 ▼ -9.00 (-7.50%)
Masood Textile / Dec 11 Masood Textile Mills Limited(MSOT)	53.20 ▼ -4.30 (-7.48%)
J.A.Textile / Dec 11 J.A. Textile Mills Limited(JATM)	47.05 ▼ -3.37 (-6.68%)
JS Investments / Dec 11 JS Investments Limited(JSIL)	17.01 ▼ -1.19 (-6.54%)

Stock	Volume
K-Electric Ltd. / Dec 11 K-Electric Limited(KEL)	342,535,258 ▲ 0.16
WorldCall Telecom / Dec 11 Worldcall Telecom Limited(WTL)	98,557,282 ▲ 0.04
P.T.C.L. / Dec 11 Pakistan Telecommunication Company Ltd(PTC)	58,736,500 ▲ 0.33
Kohinoor Spining / Dec 11 Kohinoor Spinning Mills Limited(KOSM)	56,593,500 ▲ 0.36
Askari Bank / Dec 11 Askari Bank Limited(AKBL)	55,329,000 ▲ 0.56
Fauji Foods Ltd / Dec 11 Fauji Foods Limited(FFL)	47,998,197 ▲ 0.12
Cnergyico PK / Dec 11 Cnergyico PK Limited(CNERGY)	46,684,647 ▼ -0.15
Hascol Petrol / Dec 11 Hascol Petroleum Limited(HASCOL)	43,295,500 ▲ 0.54
Pak Refinery / Dec 11 Pakistan Refinery Limited(PRL)	36,149,823 ▼ -1.50
B.O.Punjab / Dec 11 The Bank of Punjab(BOP)	32,876,325 ▼ -0.02

Markets →

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 11	284.32
USD PKR Interbank Buying / Dec 11	283.77
USD to Japanese Yen / Dec 11	145.58
USD to Swiss Franc / Dec 11	0.88
Pound Sterling to USD / Dec 11	1.25
Euro to USD / Dec 11	1.08
UK LIBOR % / Dec 8	5.48

Stock	Volume
S&P 500 / Dec 8	4604.37
Nasdaq / Dec 8	14403.97
Dow Jones / Dec 8	36247.87
India Sensex / Dec 11	69967.53
Tokyo Nikkei / Dec 11	32791.80
Hang Seng / Dec 11	16156.22
FTSE 100 / Dec 11	7549.32
Germany DAX 30 / Dec 11	16771.35
France CAC40 / Dec 11	7538.69

Item	Value
Karachi Cotton PKR/37.32 KG / Dec 8	17235
Gold 10 Grams PKR / Dec 8	187414
Crude Oil USD/Barrel / Dec 11	71.63
Gold Spot USD/Ounce / Dec 11	1996.45
Cotton US¢/pound / Dec 11	82.25

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