Business
Are SPACs coming to the ASX 200?
Anyone who has an interest in the US share market, and in US growth shares, in particular, is probably familiar with the concept of a SPAC (Special Purpose Acquisition Vehicle) company.
SPACs have been growing in popularity over the past year or two. They have also been singled out as a symptom of what some investors call an overheating market.
So what exactly is a SPAC, and are they coming to the ASX?
A SPACtacular idea?
A SPAC is a way that an unlisted company can join the share market. Think of a SPAC as an alternative to an initial public offering (IPO).
However, unlike an IPO, which involves the unilateral listing of a new company’s shares, SPACs operate a little differently. They involve a shell company, that exists only…
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