First SPAC in the Nordics has bankers lining up for more

Both local and foreign banks are trying to introduce more special purpose acquisition companies (SPACs) in Scandinavia as institutional investors line up for the first shell listing, due to go public in Stockholm on March 25.

Adam Kostyal, head of European listings at Nasdaq, told Bloomberg that the Bure SPAC has "so far exceeded expectations in term of the market response and interest." He also said Nasdaq is already working on more. | Photo: PR/Nasdaq

The bank behind Scandinavia's first special purpose acquisition company is now building out its corporate finance unit, with headcount set to grow by as much as 10 percent.

SEB is the sole global coordinator and bookrunner on the debut SPAC, which is due to go public in Stockholm on March 25. The deal, announced by investment firm Bure AB last week, comes as SPACs enjoy exponential growth in the U.S.

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