Spac (special purpose acquisition company, in Sweden the company type is sometimes called special acquisition company, ed. Note) is a type of company that last year attracted astronomical SEK 700 billion in value through hundreds of IPOs in the US.

This year, the trend has intensified even more.

Now the company type will come to Sweden when the first stock exchange listing is made tomorrow.

It is about a company without operations - a bag of money that is put on the stock exchange - which within a few years will buy an unknown company with operations that are not listed on the stock exchange.

"Inventions, whether in the financial world or in the technology industry, tend to spread like viruses," says Ivana Naumovska, a professor at the French elite university INSEAD.

First in Sweden

The investment company Bure will now only be in Sweden when they bring in SEK 3.5 billion to a Spac company when it is listed on the Stockholm Stock Exchange tomorrow.

- For us, it is about finding growth opportunities and development potential.

That is what we think is exciting, says Henrik Blomquist, CEO of Bure to SVT.

He also believes that they can now buy larger companies with the help of SPA.

But Spac has far from been a success story for US investors, although it tends to start well.

Research shows that share prices have risen by 6.5 per cent at the debut of the stock exchange and will continue to rise until a company with operations is acquired by 9.3 per cent.

But after this stage of speculation, when the company with operations was bought, it has on average ended up in the red - really - just over 15 percent.

Risk of bubble

Professor Ivana Naumovska sees a future bubble that could burst:

- There are signals that suggest that many Spac companies are fragile and investors have received low returns.

So the market will learn and make better valuations.

Swedish pension money

The Swedish people are investing money in the first Swedish Spac company.

Among the so-called anchor investors in Bures Spac are the state pension fund 4 AP-fonden, and the pension company AMF owned by the social partners.

- We offer a joint start on a very long-term journey, where we will develop Nordic companies, says Bure's CEO, Henrik Blomquist.