Europe has been slow to catch on to the boom in blank-check companies, but signs of oversaturation in the US suggest the continent’s turn is coming. So far this year, 293 SPACs have gone public in the US, raising a total of €15.8 billion (around $19.2 billion), according to PitchBook data. Europe has logged 17 listings in 2021, but that figure represents an increase from 12 deals last year and just one the year prior.
European sponsors have previously been more inclined to set up SPACs in the US, but regulatory scrutiny is making Europe a more attractive destination. The European SPAC market is expected to see more growth, but not all stock exchanges will benefit equally.