UK-based IT firm Noventiq to list in U.S. through SPAC deal (updated)

Noventiq Holdings

09/02/2023 15:04

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       Feb 9 (Reuters) - London-listed IT company Noventiq
 SFTLq.L  said on Thursday it will combine with California-based
blank-check firm Corner Growth Acquisition Corp for a Nasdaq
listing.
    Noventiq said the current price of its listed global
depository receipts (GDRs) was not a fair reflection of the
value of the group and there continued to be very limited
trading volume of its GDRs on the London Stock Exchange.
    Special purpose acquisition companies, or SPACs, are listed
but have no business operations, except hunting for a private
company to take public and allowing it to bypass the scrutiny
that comes with a traditional IPO.
    Noventiq, which provides digital solutions, hardware and
cloud services, said the parties expected to finalise the
agreement in the coming weeks.
 (Reporting by Aby Jose Koilparambil in Bengaluru; Editing by
Rashmi Aich and Shounak Dasgupta)
 ((abyjose.koilparambil@thomsonreuters.com; +919986528692))