Billionaire Branson Aims to Launch SPAC in Amsterdam

British billionaire Richard Branson lists a blank check company in Amsterdam

Richard Branson is set to launch Europe’s first blank check company on the Amsterdam stock exchange in the next few months as the British businessman taps investors to reach his acquisition targets.

The billionaire aims to list the acquisition company for special reasons SPAC on the Euronext stock exchange in Amsterdam instead of the London Stock Exchange, where his famous empire, the Virgin Group, is trading, as Amsterdam was the first stock trading center in Europe during 2021, although British regulators have changed their laws to support London’s role as a financial hub and global hub for IPOs. Read more [Powerful Banking Companies Are Moving From UK To The EU Before Brexit] and [Olam Plans To Go Public For Its Food Ingredients Division In London].

Branson’s blank check company aims to raise 200 million euros ($226 million).

It is reported that his Virgin Galactic project and the Virgin Orbit satellite program have been put up for trading through a merger with SPAC companies, to read more [Virgin Galactic sells $500 million worth of stock], and over the past year, a Branson-backed SPAC company has contributed to the stock market listing of DNA-analysis company 23andMe.

Private buyouts are shell companies that raise money in the stock markets to buy private ventures, providing an easy path for a business to gain a stock exchange without having to go through the rigorous steps of a traditional initial public offering.

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