SPAC is now trading after private placement of 11.5 million shares at 10 euros. Target sector is real estate in the European leisure and tourism business.
1 June 2022. FRANKFURT (Börse Frankfurt). SMG European Recovery SPAC SE (LU2380749676) is listed on the Regulated Market of the Frankfurt Stock Exchange as of today. The company is a SPAC - a Special Purpose Acquisition Company.
SMG European Recovery SPAC is sponsored by the investment company SMG Holding. According to the company, its objective is to invest in a company in the real estate sector with a focus on the hospitality, leisure or travel sub-sectors in an EEA member state or other specified country within 15 months.
At the start of trading, the shares were quoted at €10.00, the issue price was €10.00. The listing was supported by Barclays and ABN AMRO. Baader Bank, which is also a specialist on the Frankfurt Stock Exchange, acted as designated sponsor in Xetra trading.
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 acquire a non-listed company within a limited period of time and indirectly take it public. Upon completion of the transaction, the acquired company has been indirectly listed via SPAC.
1 June 2022, © Deutsche Börse AG
1. Juni 2022, © Deutsche Börse AG
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