Published On: Tue, Nov 17th, 2015

First fin-tech SPAC lists on JSE

Special Purpose Acquisition Company (SPAC) finJOHANNESBURG, (CAJ News) – M-FITEC has listed on the Johannesburg Stock Exchange as the first Special Purpose Acquisition Company (SPAC) to focus in financial technology.

The listing was confirmed on Tuesday.

The company has listed under the sharecode MFI.

M-FiTEC, which targets financial technology companies, is the 19th company to list on JSE overall and the sixth on the AltX Board.

The AltX board had 60 companies with an overall market cap of R28,59 billion.

Overall M-FITEC become the will be 61st.

It is the fifth SPAC on the JSE.

SPAC are shell companies that list on the JSE to raise capital for investments.

CAJ News

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