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Trade, economy and investment sector - Capital Market Authority
Organizer
The Regulatory Framework aims to allow offering special purpose acquisition companies (SPACs) on the Parallel Market. The main elements of the Draft Regulatory Framework are as follows:
1) Regulating the requirements and conditions to submit requests to the CMA for the registration and offering of SPAC’s shares.
2) Regulating the continuing obligations on SPAC.
3) Regulating the requirements and conditions on SPAC to complete acquisition or merger transaction with the target company.
4) Allow SPAC’s shares to be redeemed at the shareholders’ option.
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