MEASA Partners is planning to list a special purpose acquisition company this year, while STT GDC is planning a $1-billion pre-IPO funding round, reported Bloomberg News.
Middle East’s second SPAC listing on the cards
Abu Dhabi-based investment firm MEASA Partners is planning to list a special purpose acquisition company this year, reported Bloomberg News.
The firm founded by the Al Maskari family, in partnership with Russell Read and Peter Lejre, is collaborating with Abu Dhabi Commercial Bank PJSC and Credit Suisse Group AG on the potential listing.
The listing will be Middle East’s second SPAC listing after Abu Dhabi-based investment firm ADQ partnered with Chimera Investments to launch the region’s first SPAC, ADC Acquisition Corporation PJSC, in April last year.
Launched in 2020, in the Abu Dhabi Global Market, MEASA Partners provide a partnership platform that engages with local and international stakeholders to develop applied research and institutional quality investment strategies that could attract capital to invest across the MEASA region via Abu Dhabi.
The founders of MEASA Partners coined the term ‘MEASA’ in 2018 when the first investment strategy of the firm was developed. The acronym stands for the Middle East, Africa, and Southern Asia region.
STT GDC may launch IPO early next year
Temasek-Backed data centre operator STT GDC is planning a $1-billion pre-IPO funding round, reported Bloomberg News.
The Singapore-based company was in talks with potential advisers on the fundraising to bring in strategic investors and set a valuation benchmark for an IPO, which could potentially happen as early as next year.
A $1-billion IPO could make STT GDC’s among the biggest first-time share sales in the region, surpassing Sea Ltd’s $989 million when it listed on NYSE in 2017.
STT GDC, whose parent Singapore Technologies Telemedia Pte is fully owned by Temasek, is one of Asia’s largest data centre operators, managing more than 170 facilities in Singapore, India, China, and other regions.