Praxis Fund Services has supported the London Stock Exchange in launching the first Special Purpose Acquisition Company (SPAC).
The investment vehicle is popular in US markets and is formed with the purpose of raising money through an initial public offering and will invest into an unknown company at the point of investment.
Managing Director of Praxis Fund Services, David Le Boutillier, said it was an exciting development, both for the company and the London Stock Exchange.
“London will likely follow in US markets’ footsteps and SPACs will become a familiar investment vehicle for private investing throughout 2022 and beyond,” he said.
“To have assisted with the first of its kind on the London Stock Exchange is a real privilege and we’re honoured to have worked with the Hambro Perks team to get this successfully across the line.”
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