Cash shells can be "clean‟ purpose built with a fresh pool of capital with the aim of finding a project seeking capital to acquire.
Investors in the shell are backing the board to spend their cash wisely and target profitable companies or companies that can achieve capital growth, even though they have not yet secured a deal.
Alternatively, they can be "dirty‟ companies with a stock market quote and some funds whose previous business failed and have undergone a restructuring and a formal arrangement to eliminate all the company‟ old liabilities.
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