The Spanish lender has grabbed 8% of the resurgent US market for blank-check IPOs as part of an investment banking push. Though the product has a history of losses, there’s no obvious risk for Santander. But there’s also no obvious fit with its core retail and corporate units.
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CONTEXT NEWS
Banco Santander holds a 7.9% share of the market for initial public offerings of U.S. special purpose acquisition companies so far in 2025, according to SPAC Research data based on bookrunner volumes.