Saudi woman walks at the Saudi Tadawul, in Riyadh, Saudi Arabia on March 9 2020. Picture: REUTERS/Ahmed Yosri
A Spac, or special purpose acquisition company, raises money to acquire a private firm with the purpose of taking it public and allowing the target to list more quickly on an exchange rather than via a traditional IPO. “We are looking very closely at this recent development [Spacs] and we absolutely look forward to add this element to our market,” Hussan said after Tadawul made the debut of its shares earlier in the day. “We have to make sure that this vehicle is in demand by the investors as well as by the issuers,” he said.
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