SPACs – A New Product For The Channel Islands?

In November 2015, the Channel Islands Securities Exchange (CISE) introduced a new chapter to its listing rules to permit special purpose acquisition companies (SPACs) to list on CISE.

Whilst Jersey and Guernsey are no strangers to SPACs, historically SPACs have utilised the Channels Islands as a jurisdiction to domicile whilst seeking a listing on a large market such as the London Stock Exchange or AIM, the ability now to list SPACs on the CISE is a development which creates an interesting opportunity for SPAC sponsors, particular smaller sponsors for whom the cost of listing on a market such as the London Stock Exchange may represent a deterrent impeding their ability to getting their SPAC off the ground.