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.

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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