Skip to content
Subscriber Only

Mideast SPAC Trickle May Turn to Flood as Dubai’s Shuaa Capital Plans 3 Launches

  • Dubai firm may set up three SPACs of around $200 million each
  • SPACs expected to list in U.S., target companies in Mideast
Updated on

Dubai financial services firm Shuaa Capital PSC is considering setting up three blank-check companies of around $200 million each, according to people familiar with the matter, rapidly opening up the booming market for special purpose acquisition vehicles to Gulf investors.

Shuaa, which manages close to $14 billion in assets, approached investment banks to explore setting up the SPACs to pursue deals in the energy, finance and technology sectors, the people said, declining to be named because the information isn’t public.