WTW secures ‘significant’ insurance for first London-listed SPAC

Global broker  Willis Towers Watson has secured the insurance placement for the first special purpose acquisition company (SPAC) listed on the London Stock Exchange (LSE).

The placement is for Hambros Perks Acquisition Company.

The SPAC vehicle aims to raise up to £150 million ($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 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,” said Jeremy Wall, Global Head of Finex at WTW.

“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.”

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