For a few years ago, spac companies were the new hot thing on the stock exchange. But now, financier Sven Hagströmer is winding up his Creaspac. No purchase was ever made, and now the owners are getting their money back.
So-called spac companies were on everyone's lips in financial circles about three years ago, and several such listings were made on the Stockholm Stock Exchange. Shareholders were supposed to be tempted to invest money in these companies, which were still empty shells, a kind of blank-slate investment, but where the people behind the companies would be a kind of guarantee for exciting investments.
For Sven Hagströmer's company, it came to nothing.
"It's no secret that we would have liked to find and make a fantastic deal, but in the absence of one, we are satisfied that we didn't let transaction lust override a sober assessment and price discipline. Better no deal at all than a mediocre or bad deal," says Sven Hagströmer, chairman of the board of Creaspac and Creades, in a press release.
