Gisbert Rühl launches SPAC on the Frankfurt Stock Exchange

The former CEO of Klöckner & Co. wants to take a sustainable start-up public with the help of a SPAC.

In an ad hoc announcement, Gisbert Rühl announced his intention to go public on the Frankfurt Stock Exchange with a SPAC. With the Special Purpose Acquisition Company, he wants to raise 125 million euros and thus help a start-up to go public. Sustainability is important to the former managing director of steel trader Klöckner & Co. He wants to acquire a start-up that develops technologies that reduce CO2 emissions. The SPAC is called GFJ ESG Acquisition. It is named after the first names of Rühl and his co-investors Florian Fritsch and Josef Brunner.

In a report of the Handelsblatt's newspaper, Rühl explains his expectations for the dream start-up. He assumes that the company already has sales and is successful on the market with its product. In addition, the total volume of the start-up should be between 500 million and 1.5 billion euros.

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