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The
Financial Conduct Authority has published a consultation paper - CP21/10, available
here (
pdf) - in which it seeks views on proposed amendments to the
Listing Rules in respect of
SPACs. The proposals are intended to enable a SPAC's listing to continue, subject to there being appropriate investor protection, where an acquisition target is identified. Such a change was one of the recommendations made in the recent
UK Listing Review conducted by Lord Hill. Whether there should be a separate listing category for SPACs is something the FCA will consider - and consult upon - at a later date.
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