Listing SPACs at LuxSE

Special Purpose Acquisition Companies (SPACs) are vehicles specifically created to raise capital for the purpose of acquiring an existing operating company. SPACs are particularly appealing for experienced sponsor teams, as an alternative route to take companies public within a limited timeframe.  Upon admission to trading on a stock exchange, while SPAC sponsors search the market, the vehicle remains without underlying commercial operations or assets other than cash and limited investments.

Due to their innovative characteristics and potential for value creation through acquisition, SPACs represent an asset class that has garnered significant interest from the international investment community.

Alignment with CMU Action Plan

With fast access to listing, SPACs can facilitate the access of innovative small and medium-sized companies to public equity markets of the European Union (EU). By doing so, SPACs can contribute to the European Commission’s Capital Markets Union (CMU) goals of developing deep and inclusive EU equity markets that provide long-term investment opportunities, as outlined in the CMU Action Plan.

Luxembourg – a centre of financial expertise at the heart of the EU

Thanks to its business-driven financial ecosystem providing a high concentration of international capital markets experts, and the stability of its legal framework, Luxembourg presents an attractive offering for SPAC sponsors –  especially for those that do not target a single specific domestic market – with the Luxembourg Stock Exchange (LuxSE) acting as the meeting place for market players wishing to tap into the potential of these unique instruments.

Listing a SPAC at LuxSE

The ideal venue for a primary listing, LuxSE operates a robust and secure market infrastructure offering SPAC issuers access to two marketplaces, supported by service excellence and competitive fees.

In alignment with the European Securities and Markets Authority (ESMA)’s Public Statement highlighting the complex nature of SPAC transactions and the need to maintain investor protection, LuxSE aims to support SPAC sponsors in their journey to the market while underpinning the importance of ensuring investor protection.

Maintaining investor protection and safeguarding market integrity is at the heart of our priorities. With that in mind, and in light of the substantial increase in SPAC activity across the EU, we have produced a set of Guidelines for SPAC sponsors setting up their instruments, with the aim of facilitating the listing process at LuxSE.

Submission of documents at LuxSE

The general documentation to be provided on application is laid down in the Rules and Regulations of LuxSE. In addition, SPACs shall also provide the following documents:
    • A legal memorandum regarding the position of the issuer under the Luxembourg AIFM law.
    • A general presentation highlighting the experience and track record of the SPAC management.

Contact us

Carlo Houblie

Commercial Director

+352 47 79 36 471
Ronny Alf

Product Manager

+352 47 79 36 229