02 Nov 2021

The FRA (Financial Regulatory Authority) has decided to allow the establishment, licensing, and listing of SPACs (Special Purpose Acquisition Vehicles). SPACS are entities that raise capital through an IPO in order to acquire or merge with other companies. According to the Chairperson of the FRA, the most attractive industries currently for these types of entities are in the technology and fintech fields.

(Source: FRA, Mubasher (English) (Arabic), Daily News Egypt (English), al-Maal, Amwal al-Ghad, Zawya, Economy Plus Me, al-Youm al-Saabe, al-Watan, Sada el-Balad)