AMWatch

Danish pension firms hesitate to use hyped shell listing method

The country's pension firms seem weary to put money into a recently popularized stock market phenomenon called SPAC. Swedish pension funds support the first attempt to list hollow companies in the Nordics.

Photo: Ursula Bach/PensionDanmark

Several of Sweden's big pension companies have started to support a much-discussed stock market operation that's currently sweeping through Scandinavia after becoming explosively popular in the US.

Many Danish pension firms, however, are having a hard time the seeing point in using a special purpose acquisition company (SPAC). A SPAC is a shell – or a 'blank cheque company' with no actual business operations – set up to raise capital through an initial public offering in order to acquire an existing business.

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