European SPACs Data Hub
After there were no new SPAC IPOs in Europe over the summer vacation period in August, there was a slight uptick in activity in September, as two new SPAC sponsors secured IPOs in Europe.
Overview
De-SPAC activity involving European assets has continued to simmer, with volumes remaining in line with previous monthly totals, while overall deal value has soared.
The White & Case European SPACs Data Hub highlights the key datapoints behind SPAC IPO and De-SPAC M&A trends in Europe on a monthly basis.
Click here to download the full SPAC data
European SPAC Data & statistics roundup
European SPAC IPOs
These statistics track the SPAC IPOs that have listed on European Stock Exchanges from 1 January 2019 to 30 September 2021.
Annual breakdown of European-listed SPAC IPOs
This chart shows the breakdown of annual SPAC IPOs listed on European Stock Exchanges by value and volume.
|
Year |
Number of issues |
Market share (%) |
|
2019 |
5 |
13 |
|
2020 |
4 |
11 |
|
2021 |
28 |
76 |
|
Total |
37 |
100 |
Source: Refinitiv, an LSEG business
Issuer nation by number of SPAC listings
This chart shows the nation of the issuer by number of listings for the period from 1 January 2019 to 30 September 2021.
|
Issuer nation |
Number of issues |
Market share (%) |
|
United Kingdom |
10 | 27 |
|
Netherlands |
7 | 18 |
|
France |
6 | 16 |
|
Italy |
4 | 11 |
|
Luxembourg |
4 | 11 |
|
Sweden |
4 | 11 |
|
Cayman Islands |
1 | 3 |
|
Finland |
1 | 3 |
|
Total |
37 | 100 |
Source: Refinitiv, an LSEG business
Issuance stock exchange by number of SPAC listings
This chart shows the number of SPAC IPO listings on European Stock Exchanges by number, by year.
1 January 2021 to 30 September 2021
|
Primary exchange nation |
Number of issues |
Market share (%) |
|
Netherlands |
10 | 36 |
|
France |
4 | 14 |
|
Sweden |
4 | 14 |
|
United Kingdom |
4 | 14 |
|
Germany |
3 | 11 |
|
Italy |
2 | 7 |
|
Finland |
1 |
4 |
|
Total |
28 | 100 |
Source: Refinitiv, an LSEG business
Full-year 2020
|
Primary exchange nation |
Number of issues |
Market share (%) |
|
United Kingdom |
2 | 50 |
|
France |
1 | 25 |
|
Netherlands |
1 | 25 |
|
Total |
4 | 100 |
Source: Refinitiv, an LSEG business
Full-year 2019
|
Primary exchange nation |
Number of issues |
Market share (%) |
|
United Kingdom |
4 | 80 |
|
Italy |
1 | 20 |
|
Total |
5 | 100 |
Source: Refinitiv, an LSEG business
Click here to download the full SPAC data
European De-SPAC Data & statistics roundup
European De-SPAC/business combinations
These statistics track the De-SPAC merges involving a European target from 1 January 2019 to 30 September 2021.
Annual summary of De-SPAC transactions with European target
This chart shows the annual number of De-SPAC mergers with European targets, from 1 January 2019 to 30 September 2021.
1 January 2019 to 30 September 2021
|
Announcement year |
Number of deals |
Market share (%) |
Deal value (US$M) |
|
2019 |
6 |
10 |
1,212.95 |
|
2020 |
13 |
21 |
16,495.67 |
|
2021 |
42 |
69 |
70,764.62 |
|
Total |
61 | 100 | 88,473.24 |
Source: Refinitiv, an LSEG business
Year-to-date comparison of De-SPAC transactions with European target
This chart shows year-to-date comparison of the number of De-SPAC deals with a European target for 2019, 2020 and 2021.
1 January 2019 to 30 September 2021
|
Announcement year |
Number of deals |
Deal value (US$M) |
|
2019 |
4 |
573.33 |
|
2020 |
8 |
2,358.61 |
|
2021 |
42 |
70,764.62 |
|
Total |
54 | 88,473.24 |
Source: Refinitiv, an LSEG business
Number of De-SPAC deals by target industry
This chart shows the breakdown of De-SPAC deals for European targets, by industry volume over the period 1 January 2019 to 30 September 2021.
1 January 2019 to 30 September 2021
|
Target industry |
Number of deals |
Market share (%) |
Deal value (US$M) |
|
High Technology |
13 | 21 | 12,735.94 |
|
Financials |
11 | 18 | 7,592.34 |
|
Industrials |
8 | 13 | 30,908.47 |
|
Healthcare |
6 | 10 | 4,099.38 |
|
Consumer Products and Services |
4 | 7 | 2,304.28 |
|
Materials |
4 | 7 | 11,774.47 |
|
Media and Entertainment |
4 | 7 | 5,338.36 |
|
Energy and Power |
4 | 7 | 2,112.36 |
| Consumer Staples | 2 | 3 | 1,568.50 |
|
Retail |
3 | 5 | 9,338.00 |
|
Telecommunications |
1 | 1 | 684.31 |
|
Real Estate |
1 | 1 | 16.84 |
|
Total |
61 | 100 | 88,473.24 |
Source: Refinitiv, an LSEG business
Number of De-SPAC deals by target nation
This chart shows the target nation broken down by the number of De-SPAC deals with a European target over the period 1 January 2019 to 30 September 2021.
01 January 2019 to 30 September 2021
|
Target nation |
Number of deals |
Market share (%) |
Deal value ( (US$M) |
| United Kingdom | 26 |
42 |
26,614.52 |
|
Germany |
8 | 13 | 7,230.91 |
|
Italy |
6 | 9 | 2,073.92 |
|
Luxembourg |
4 |
6 |
17,614.21 |
|
Netherlands |
3 | 5 | 3,269.00 |
|
Switzerland |
3 | 5 | 2,584.57 |
|
Republic of Ireland |
2 | 3 | 587.00 |
|
Spain |
2 | 3 | 521.68 |
|
Sweden |
1 | 2 | 19,745.00 |
|
Guernsey |
1 |
2 |
4,750.00 |
|
Cyprus |
1 | 2 | 2,032.50 |
|
Russian Federation |
1 | 2 | 684.31 |
|
Norway |
1 | 2 | 410.00 |
|
Finland |
1 | 2 | 355.63 |
|
Lithuania |
1 | 2 | - |
|
Total |
61 | 100 | 88,473.24 |
Source: Refinitiv, an LSEG business
Number of De-SPAC deals by acquiror nation
This chart shows the acquiror nation broken down by the number of de-SPAC deals with a European target over the period 1 January 2019 to 30 September 2021.
1 January 2019 to 30 September 2021
|
Acquiror nation |
Number of deals |
Market share (%) |
Deal value (US$M) |
|
United States |
30 | 49.2 | 77,898.23 |
|
United Kingdom |
13 | 21.3 | 2,691.36 |
|
Italy |
5 | 8.2 | 519.92 |
|
Germany |
3 | 4.9 | 601.44 |
|
Cayman Islands |
2 | 3.3 | 1,964.00 |
|
Russian Federation |
1 | 1.6 | 2,032.50 |
|
Singapore |
1 | 1.6 | 1,118.59 |
|
Luxembourg |
1 | 1.6 | 1,083.21 |
|
Finland |
1 | 1.6 | 355.63 |
|
Mexico |
1 | 1.6 | 191.68 |
|
Jersey |
1 | 1.6 | 16.68 |
|
Lithuania |
1 | 1.6 | - |
|
Netherlands |
1 | 1.6 | - |
|
Total |
61 | 100 | 88,473.24 |
Source: Refinitiv, an LSEG business
Click here to download the full SPAC data
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