NYSE Enhances Listing Rules and Services Platform to Attract SPACs

The New York Stock Exchange, part of the Intercontinental Exchange, has enhanced its listing rules and services platform to attract Special Acquisition Companies (SPACs) to list on the NYSE. A final rule filing for NYSE’s SPAC listings was approved by the SEC. SPACs are companies that are formed to raise capital through an IPO, and then use the proceeds to acquire an operating business. SPACs are able to list on either the big board, NYSE or NYSE MKT (the market for small- to mid-cap companies). NYSE MKT will be renamed NYSE American next Monday on July 24.