Ivanhoe Spac nets $240m, eyes new energy industries

By Jonathan Breen
07 Jan 2021

Singapore-based Ivanhoe Capital listed a special purpose acquisition company (Spac) on the New York Stock Exchange this week, raising $240m after increasing the size of the float.

Ivanhoe Capital Acquisition Corp, a so-called blank cheque company, is backed by mining billionaire Robert Friedland. But the Spac is looking to invest in the electrification of the global energy sector.

Having initially offered 20m units at a fixed price of $10, sole bookrunner Morgan Stanley was able ...

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