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WTW secures placement of London Stock Exchange’s first SPAC

8th December 2021 - Author: Staff Writer

Global broker Willis Towers Watson has secured the insurance placement of Hambros Perks Acquisition Company, the first ever listing of a Special Acquisition Company (SPAC) on the London Stock Exchange.

willis towers watsonA SPAC is a company that has no commercial operations and is formed strictly to raise capital.

The vehicle aims to raise upwards of £150 million through the listing and will focus on “high-performing” technology companies; looking at business combinations with targets valued at £800 million or more.

SPACs essentially provide an easy route for a business to gain a stock market listing without going through the rigorous process of a traditional initial public offering (IPO).

“Up until recently, London and the EU have not seen the same volume of SPACS as the US and I am delighted that we have placed the first listing of a SPAC on the London Stock Exchange,” said, Jeremy Wall, Global Head of Finex.

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“This is a significant placement for Willis Towers Watson and demonstrates the depth and specialist knowledge of our global FINEX team. We see significant opportunities in this area and have initiated a SPACs taskforce to respond to increasing client demand.”

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