ATIF Holdings: Climbs after co launches SPAC department

ATIF Holdings

22/02/2021 15:51

** Shares of financial services provider  ATIF.O  up 26% at
$1.96
    ** Stock trading at highest in about two months
    ** Co says it has established a special purpose acquisition
company (SPAC) department  urn:newsml:reuters.com:*:nPn5qnYdWa
    ** ATIF also says it is planning to establish a SPAC
    ** SPACs are shell companies which raise capital through an
IPO and then merge with a private company, thereby taking it
public
    ** About 248 SPACs raised around $83 billion through IPOs
last year, data from SPAC Research shows
    ** Stock was up around 67% this year, up to last close

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com))