Bristol, UK – Global financial services company Computershare has announced that Hambro Perks Acquisition Company Ltd (HPAC) has become the first special purpose acquisition company (SPAC) to launch in the UK following changes in August to UK listing rules.
HPAC, which is sponsored by technology investment firm Hambro Perks Ltd, has said it intends to raise up to £150m through the listing.
Computershare confirmed that HPAC has been admitted to the Official List of the Financial Conduct Authority, and to trading on the Main Market for listed securities of the London Stock Exchange plc.
Dominic Perks, CEO of HPAC, said: "Listing in London, the technology capital of Europe, will enable us to partner with pioneering leaders with the potential to grow into global category players.
"The UK's private technology companies contain a wealth of talent and prospects, as well as executives who can differentiate and scale businesses."
Mark Cleland, CEO Issuer Services UCIA at Computershare said: "Our Channel Islands team has worked closely with HPAC's legal advisors to deliver a successful operating and settlement model that meet the new listing rules for UK SPACs.
"Our longstanding experience and nuanced understanding of how companies list and their continuing obligation requirements as a UK listed company means that we are able to partner with companies through a SPAC listing and on into their pre and post acquisition lifecycle."
Computershare said that a review earlier this year by Lord Hill proposing to liberalise the rules on SPACs aimed to help the UK better compete with US and European stock exchanges.
SPACs are new companies that are created to acquire an existing firm, usually a private company, via an initial public offering (IPO).
Computershare said that there were 359 SPAC IPOs during 2021 in the US, with a combined value of $95bn.
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About Computershare Limited (CPU)
Computershare (ASX: CPU) is a global market leader in transfer agency and share registration, employee equity plans, mortgage servicing, proxy solicitation and stakeholder communications. We also specialise in corporate trust, bankruptcy, class action and a range of other diversified financial and governance services.
Founded in 1978, Computershare is renowned for its expertise in high integrity data management, high volume transaction processing and reconciliations, payments and stakeholder engagement. Many of the world's leading organisations use us to streamline and maximise the value of relationships with their investors, employees, creditors and customers.
Computershare is represented in all major financial markets and has over 12,000 employees worldwide.