True Potential eyes $2bn US flotation - reports

Wealth manager also considering sale

Kathleen Gallagher
clock • 1 min read

True Potential is considering the unusual move of floating in the US via $2bn Special Purpose Acquisition Company (SPAC).

Credit Suisse's US team are working to merge True Potential with a special acquisition company, the Evening Standard has reported. A SPAC is also known as a "blank check company" - a company with no commercial operations that is formed to raise capital with the purpose of acquiring an existing business. The company was looking to sell in 2018, but the process did not come to anything as talks broke down in early 2019. Last month, reports showed True Potential was up for sale again, with frontrunners including Lloyds Banking Group, Franklin Templeton and Cinven. There has been a sur...

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