Bernard Arnault and Jean Pierre Mustier Spac raises €500m in Amsterdam listing

Flagship European listing comes as the US private placement boom loses steam

The special purpose acquisition vehicle created by LVMH chief executive Bernard Arnault and former UniCredit chief Jean Pierre Mustier to invest in European financial companies has listed in one of the largest European Spacs placements on record. Pegasus Europe raised €500m in its listing on Euronext Amsterdam on Thursday morning, making it among the largest European Spacs in the year’s crop of the vehicles. Spacs list on stock markets and then hunt for acquisition targets to take public. Shares were priced at €10.