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Latest SPAC News: Zegna debuts on Wall Street following $3Bn SPAC deal

Italian Luxury Group Zegna Debuts on Wall Street  in $3 Bln Deal

Shares in Italian luxury group Zegna rose in New York on Monday, where they debuted after completing a merger with a U.S. SPAC in a deal with an enterprise value of $3.1 billion.

Shares in Zegna traded at $11.00 apiece, up 7.4% from the opening price of $10.24. The company had said in a statement that the initial market capitalization of the combined group would be $2.4 billion.

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