Britain revises SPAC rules to attract listings to London market

Britain has eased rules for so-called special purpose acquisition companies (SPACs) to attract more listings to London, just as global regulators have put a watch on SPACs, which may already be peaking in popularity.

After a surge in activity in SPACs or "blank check" companies on Wall Street and more recently in the European Union and emerging markets, Britain is keen that London is not left behind.

SPACs list on an exchange and must use the proceeds to buy an existing or target company within a set timeframe. This process provides a quicker route to a stock market listing as it sidesteps