FRA receives 1st application for SPAC license

Updated 7/31/2024 8:36:00 AM
FRA receives 1st application for SPAC license

Arab Finance: Catalyst Partners has submitted a request, via its legal counsel Matouk Bassiouny, to the Financial Regulatory Authority (FRA) to establish the first special purpose acquisition company (SPAC) in the market, as per a statement.

Accordingly, a venture capital company will be set up under the name of Catalyst Partners Middle East (CPME) with the aim of acquiring firms in the fields of non-bank financial services and fintech.

Earlier, the FRA issued new regulations governing the listing and delisting of SPACs on the Egyptian Exchange (EGX).

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EGX FRA SPACs

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