Nov 23 (Reuters) - British investment firm Hambro Perks said
on Tuesday it was planning to list a special purpose acquisition
company (SPAC) on the London stock exchange, the first so-called
"blank check" listing on the bourse since new rules came into
force in August.
The SPAC vehicle, dubbed Hambro Perks Acquisition Company
(HPAC), aims to raise up to 150 million pounds ($201 million)
through the listing and will focus on "high-performing"
The SPAC, led by CEO Dominic Perks, said it would consider a
business combination with targets valued at 800 million pounds
SPACs are investment vehicles that raise money on stock
markets to buy private businesses, providing an easy route for
the target to gain a listing without going through the rigorous
process of a traditional initial public offering (IPO).
Over $125 billion of SPACs have listed in the United States
in 2021 so far, an unprecedented boom. Europe has only played
host to handful of these vehicles, most of them in Amsterdam.
London has lagged behind in the SPAC stakes, with no
listings to date, though authorities changed rules to bring them
more in line with the United States to try to attract some of
them to the British bourse.
"We have chosen to list in London because it's the
technology capital of Europe," Perks said.
Citi is the sole global coordinator on the listing.
($1 = 0.7480 pounds)
(Reporting by Emma-Victoria Farr
Additional reporting by Abhinav Ramnarayan
Editing by Pamela Barbaglia and Mark Potter)