Constellation Alpha Capital Corp. (CNAC), an India-focused special purpose acquisition firm has raised $143.75 million through an initial public offering on US stock exchange Nasdaq. A special purpose acquisition company (SPAC) is a publicly listed buyout company that raises a blind pool of money through an IPO for completing the acquisition of a private company. The public offering gives the company a market value of $184 million (Rs1,185 crore). The IPO proceeds came primarily from US and European institutional investors. CNAC will look to acquire assets in the range of $250-500 million.
India-focused blank-check firm Constellation Alpha raises $144 million in Nasdaq IPO
Date posted: Wednesday 21 June 2017