Citi expects to see more special purpose acquisition company deals in emerging markets, including in the Middle East, in the coming months, an executive at the investment bank said on Wednesday.
“We have already seen a few SPACs done in Russia,” said Rizwan Shaikh, Citi’s head of EMEA emerging markets corporate banking, said during a webinar.
“We expect to see more activity in the GCC (Gulf Cooperation Council). We do expect to see more of that in the coming months.”
A SPAC is a specifically formed investment vehicle which raises money through an initial public offering to buy another company.
Source: Reuters.com