Deutsche Boerse expects 12 SPACs in Frankfurt in 2021

Credit: REUTERS/KAI PFAFFENBACH

German stock market operator Deutsche Boerse expects up to 12 listings of blank-cheque firms in Frankfurt in 2021, executive Peter Fricke told German business daily Handelsblatt.

FRANKFURT, May 2 (Reuters) - German stock market operator Deutsche Boerse DB1Gn.DE expects up to 12 listings of blank-cheque firms in Frankfurt in 2021, executive Peter Fricke told German business daily Handelsblatt.

"I reckon that we could see up to a dozen listings of blank-cheque firms in Frankfurt this year," he said.

Special purpose acquisition companies (SPACs) list for the sole purpose of buying companies as an efficient and fast way to list them on the stock exchange.

SPAC deals have seen huge interest and captured the interest of Wall Street and amateur traders seeking quick profit.

U.S. SPAC M&A volume was $172.3 billion in the first quarter, up 3,000% year on year and almost 75% of the total SPAC deal activity worldwide.

(Reporting by Christoph Steitz; editing by Barbara Lewis)

((christoph.steitz@thomsonreuters.com; +49 30 220 133 647;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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