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The Guardian - UK
The Guardian - UK
Business
Jasper Jolly

First Spac set up under new UK rules to close after failing to find merger target

Elevated view over London City skyline at sunset
As chancellor, Rishi Sunak aimed to revive the fortunes of the London Stock Exchange, which had seen a dearth of new listings. Photograph: Shomos Uddin/Getty Images

The first company launched under Rishi Sunak’s newly relaxed rules to attract special purpose acquisition companies to London after Brexit has said it will shut down, without finding a suitable merger target.

Hambro Perks Acquisition Company said in a statement to the stock market on Monday that it had ceased all operations except for the purposes of winding up the company and returning money to shareholders.

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