SPACs cause headache for UAE bourses amid lacklustre IPO market ...Qatar

Firms in the UAE are increasingly seeking fast-track listings in New York through mergers with special purpose acquisition companies (SPACs), posing a fresh challenge to local bourses which are struggling to revive a moribund IPO market. A burgeoning dealmaking instrument, SPACs raise money to acquire a private firm with the purpose of taking it public, allowing the target to list more quickly on share markets than via traditional initial public offerings. Such lightly regulated vehicles are currently not permitted on UAE bourses, however, encouraging companies to seek out alternative venues and putting local equity markets under pressure to change regulations to cash in on the trend. After

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