Investor mania private shopping companies is thriving in the oil-rich Gulf, where the Abu Dhabi Mubadala royalty is ready to set up two Spacs and the Dubai treasurer is raising $ 200m to connect with Middle Eastern companies.
Local investors have been preparing for months to grow in the emerging market of Spacs, or analytics companies, which are first enrolling in the stock market before looking for a company to join.
Mubadala Investment Company spoke to potential two Spacs businesses in terms of technology and medicine, people said.
A street show comes as Elder, which had significant benefits and a high profile through 2020, restructures its financial sectors away from petrochemicals and creates new industries, such as technology, health care and infrastructure. The elder declined to comment.
Interest in Spacs has declined in recent months after committing frustrations at a shared price and reviewing the US data.
In the Gulf, however, investors are worried about the lack of profits. Administrative and family finance agencies also want to use the sector to improve their professionalism and other “new economic” businesses that have been successful as a result of the epidemic.
“Spacs, all of a sudden, is the sound of the moon here,” said a Dubai-based investor. “There are other places in the Middle East, as well as in Africa and South Asia – no one is looking at these markets.”
FIM Partners, a Dubai-based border management company with the help of Egyptian investment bank EFG-Hermes, has been giving money to investors this week as it seeks to raise $ 200m for its first offering to Frontier Investment Corp in Nasdaq, which could be announced early Thursday. business people said.
The company, co-founded by JPMorgan, wants to integrate into the field of technology, digital media, ecommerce or fintech in the Middle East, Africa, Southeast Asia or Southeast Asia, he said. FIM could not be reached for comment and JPMorgan declined to comment.
Anghami, a music consultant in the region, said in March that he wanted to sign up for the Nasdaq for $ 220m through a partnership with Spac of Singapore.
Global Spac Partners in April raised $ 160m in Nasdaq to acquire purchases in the Middle East, Southeast Asia and Southeast Asia. The CEO of the car, Bryant Edwards, had previously worked for Spac which in 2019 merged with the UAE oil company, Brooge Energy.
Saudi Arabia’s Independent Public Investment Fund has also invested in international Spacs and remains a major player in the development of electric vehicles. Lucid Motors Games, which is looking to raise $ 24bn through a merger with a private company run by former weapons writer Michael Klein.
The Spacs, which is looking to the Middle East, have been struggling to find a replacement, says a Dubai-based investor, but investors are looking at five or ten potential goals.
Some are skeptical of the region’s ability to keep the Spac race, saying there is a possibility that many agreements will fail.
“Anyone can make a Spac. . . but everything is working, ”said another Investor. “The key is to have sex, and to have good growth plans and to do it at the right price – it’s difficult.”
Source link
