Deutsche Börse : SMG European Recovery SPAC SE listed on the Frankfurt Stock Exchanges’ Regulated Market since today

Release date: 01 Jun 2022| Deutsche Börse Cash Market

SMG European Recovery SPAC SE listed on the Frankfurt Stock Exchanges' Regulated Market since today

As of today, SMG European Recovery SPAC SE (ISIN: LU2380749676) has been listed on the Regulated Market (General Standard) of the Frankfurt Stock Exchange. The company is a SPAC - a Special Purpose Acquisition Company.

The SMG European Recovery SPAC is sponsored by the investment company SMG Holding. According to the company, the goal is to invest within 15 months in a company in the real estate sector with a focus on the sub-sectors hospitality, leisure or travel industry in an EEA member state or other specified country.

The shares had an initial listing price of €10.00. The issue price was €10.00. The listing was accompanied by Barclays and ABN AMRO. Baader Bank acts as designated sponsor on Xetra and is also specialist on the trading venue Börse Frankfurt is Baader Bank.

A SPAC listing is an alternative to the classic IPO (Initial Public Offering). A SPAC is a shell company without its own operating business. The aim is to raise capital through a listing and use the proceeds to take over a non-listed company within a limited period and indirectly take it public. After completion of the transaction, the acquired company has been indirectly listed via SPAC.

For more information on a SPAC listing and eligibility requirements, click here.

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