Billionaire Richard Branson is reportedly looking to Amsterdam instead of London for his first European-listed special purpose acquisition company.
Sky News reported that BransonVirgin Group founders are considering a €200 million ($226 million) listing on Euronext Amsterdam. Branson has already taken Virgin Galactic SPCE,
and Virgin Orbit VORB,
public through mergers with blank-check companies in the US, and Virgin’s SPACs merged into 23andMe ME,
And set up a plan to do this with Grove Collaborative VGII,
says it contributed 49% of the new SPAC listed in Europe last year. Britain relaxed SPAC rules last year in an effort to bring the London Stock Exchange into the LSEG.
European stocks fell on Friday after a further drop in the unemployment rate and wage hikes on a US jobs report, even as non-farm payrolls hit a short-estimate of 199,000.
German DAX DAX,
fell 0.8% and the French CAC 40px1,
fell 0.5%, while the FTSE 100 UKX,
Trading held steady, as rising bond yields boosted the financial sector, and a rally in oil prices helped lift energy producers, including BP,
Milan rose 5% after the chipmaker guided for a stronger-than-forecast fourth quarter.