SAUDI ARABIA: The Saudi Exchange announce that listing of Special Purpose Acquisition Companies (SPACs) vis an IPO is now allowed on the Nomu - Parallel Market, offering fast-growing businesses and SMEs an alternative route to raise capital. SPACs are required to complete an acquisition or a merger within a 24-month period from the date of listing, which may be extended to 36 months subject to the approval of the Capital Market Authority.
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