Successful listing of Sweden’s first SPAC

A Special Purpose Acquisition Company (SPAC) can be likened to a bank account in which investors deposit money against shares and inspire confidence in an investment organisation to list the business before identifying an unlisted company to acquire. When the acquisition is completed, it is merged with the SPAC and, in doing so, becomes listed. A new form of listing and an easier way for unlisted companies to enter the stock market.

Bure, with the principal owner and Chairman Patrik Tigerschiöld and CEO Henrik Blomquist at the helm, had been monitoring developments in the US, where half of all of the stock market listings in 2021 were SPACs. An opportunity presented itself to become a pioneer with the concept in Sweden and offer reputable investors and institutions in the country this form of investment in collaboration with Bure’s investment organisation.

To succeed, Nasdaq’s SPAC regulations needed to be updated and investors needed to learn more about the model. A management team and Board that met the stock market’s requirements for companies on the main list was also needed.

Bure’s CEO, Henrik Blomquist, CFO Max Jonson together with Johan Hähnel, a financial communication consultant, were appointed as the management of ACQ Bure and a Board with reputable individuals from the world of finance were recruited.

Together, we developed a plan and material for a comprehensive roadshow alongside Nasdaq to develop SPAC regulations and teach the finance market about how a SPAC works. In addition to management meeting with a large number of investors, focus was on media, the production of recorded interviews, infographics and interviews on financial platforms.

Thanks to the finance market’s considerable confidence in Bure and a major training initiative, the listing was a success with about 35,000 institutions and private individuals investing approximately SEK 3.5 billion.