As of today, SMG European Recovery SPAC SE (ISIN: LU2380749676) has been listed on the Regulated Market (General Standard) of the Frankfurt Stock Exchange. The
The SMG European Recovery SPAC is sponsored by the investment company SMG Holding. According to the company, the goal is to invest within 15 months in a company in the real estate sector with a focus on the sub-sectors hospitality, leisure or travel industry in an EEA member state or other specified country.
The shares had an initial listing price of €10.00. The issue price was €10.00. The listing was accompanied by Barclays and ABN AMRO. Baader Bank acts as designated sponsor on Xetra and is also specialist on the trading venue Börse Frankfurt is Baader Bank.
A SPAC listing is an alternative to the classic IPO (Initial Public Offering). A SPAC is a shell company without its own operating business. The aim is to raise capital through a listing and use the proceeds to take over a non-listed company within a limited period and indirectly take it public. After completion of the transaction, the acquired company has been indirectly listed via SPAC.
For more information on a SPAC listing and eligibility requirements, click here.
