Willis Towers Watson secures insurance placement for first Special Acquisition Company (SPAC) on London Stock Exchange

Willis Towers Watson today announced that it had secured the insurance placement of the Hambros Perks Acquisition Company, the first listing of a SPAC on the London Stock Exchange...

The SPAC vehicle aims to raise up to 150 million pounds ($201 million) through the listing and will focus on "high-performing" technology companies and will be looking at business combinations with targets valued at 800 million pounds or more.

SPACs are investment vehicles that raise money on stock markets to buy private businesses, providing an easy route for the target to gain a 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. 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” Said, Jeremy Wall, Global Head of Finex.