AGL 6.80 Increased By ▲ 0.08 (1.19%)
ANL 9.22 Decreased By ▼ -0.53 (-5.44%)
AVN 74.20 Decreased By ▼ -1.30 (-1.72%)
BOP 5.43 Decreased By ▼ -0.01 (-0.18%)
CNERGY 4.89 Decreased By ▼ -0.06 (-1.21%)
EFERT 78.00 Decreased By ▼ -0.05 (-0.06%)
EPCL 54.70 Decreased By ▼ -0.70 (-1.26%)
FCCL 14.93 Decreased By ▼ -0.37 (-2.42%)
FFL 6.34 Decreased By ▼ -0.14 (-2.16%)
FLYNG 7.12 Decreased By ▼ -0.03 (-0.42%)
GGGL 10.56 Increased By ▲ 0.01 (0.09%)
GGL 16.43 Decreased By ▼ -0.12 (-0.73%)
GTECH 8.21 Decreased By ▼ -0.21 (-2.49%)
HUMNL 6.35 Decreased By ▼ -0.06 (-0.94%)
KEL 2.95 Decreased By ▼ -0.04 (-1.34%)
LOTCHEM 28.60 Decreased By ▼ -0.25 (-0.87%)
MLCF 27.80 Decreased By ▼ -0.50 (-1.77%)
OGDC 75.30 Decreased By ▼ -0.20 (-0.26%)
PAEL 15.80 Increased By ▲ 0.26 (1.67%)
PIBTL 5.60 Increased By ▲ 0.24 (4.48%)
PRL 17.22 Decreased By ▼ -0.10 (-0.58%)
SILK 1.06 Increased By ▲ 0.01 (0.95%)
TELE 10.30 Decreased By ▼ -0.20 (-1.9%)
TPL 8.00 No Change ▼ 0.00 (0%)
TPLP 20.80 No Change ▼ 0.00 (0%)
TREET 22.60 Decreased By ▼ -0.40 (-1.74%)
TRG 128.85 Increased By ▲ 6.15 (5.01%)
UNITY 22.50 Decreased By ▼ -0.08 (-0.35%)
WAVES 12.00 Increased By ▲ 0.70 (6.19%)
WTL 1.13 Decreased By ▼ -0.01 (-0.88%)
BR100 4,100 Decreased By -4 (-0.1%)
BR30 15,533 Increased By 64.6 (0.42%)
KSE100 41,129 Increased By 114.8 (0.28%)
KSE30 15,337 Increased By 24.6 (0.16%)

SPAC

WeWork takes SPAC route to go public in $9bn deal
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
Brazil's Patria to launch $250mn SPAC
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
KKR-backed SPAC raises $1.2bn in US IPO
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
Walmart's Flipkart in early talks for US listing via SPAC deal
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
Alec Gores, Guggenheim-backed SPAC seeks to raise $750 million via IPO
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
AmTrust CEO-backed SPAC files for $300mn IPO
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