time to read 1 minutes

Skol to ACQ!INTL

Skol to ACQ!

And just like that, the SPAC craze is coming in hot to take over the chill Nordic markets.

Scandinavia’s first blank check firm, ACQ Bure AB (ACQSPAC), which was created by Swedish firm Bure Equity AB, started trading on Thursday. The hype was so real that investors queued up to pour their funds into the special purpose acquisition company — to the point that it was “considerably oversubscribed!”

Many financial players believe that the SPAC model is set to increase in popularity in the wealthy region of Northern Europe. ACQ jumped as much as 9% upon hitting the market.

why it matters
The fact that ACQ was oversubscribed means that investor appetite for SPACs is high in Europe, and not just the US. No wonder business heavy-weights over there, like LVMH’s Bernard Arnault, have jumped on the bandwagon personally too.