New rules have been introduced which allow Special Purpose
Acquisition Companies (SPACs) to be listed on the Channel Islands
Securities Exchange (CISE).
A SPAC is a cash shell which is used to raise money for a very
specific investment objective.
The SPAC is growing again in popularity as international markets
recover from the global financial crisis and now the CISE has
launched specific rules to introduce it as a new product.
CISE Chief Executive Fiona Le Poidevin said: "We have been
able to introduce our SPAC rules in a timely manner, which
demonstrates the responsive nature of the CISE in meeting the needs
of current and potential clients.
"The new SPAC rules have been designed to be commercially
attractive for management teams and yet also offer robust integrity
for investors so we expect that this, combined with our competitive
fee regime, will mean that they prove attractive in the
marketplace. Indeed, even though the rules are only just coming
into
