Special purpose acquisition companies have taken Wall Street by storm. These shell companies raise money by listing on the stock exchange but have no business plan other than to acquire a company that will eventually go public. Spacs have raised more than $55bn this year but, as Ortenca Aliaj explains, may not be the best return on investment. See if you get the FT for free as a student (http://ft.com/schoolsarefree) or start a £1 trial: https://subs.ft.com/spa3_trial?segmentId=3d4ba81b-96bb-cef0-9ece-29efd6ef2132.
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