Blank check company MAFS Acquisition files for $500 mln IPO

Dec 7 (Reuters) - Blank check company MAFS Acquisition Corp filed with U.S. regulators to raise up to $500 million in an initial public offering.

The New York-based company, told the U.S Securities and Exchange Commission in a preliminary prospectus that Citigroup was underwriting the IPO.

Blank check companies are special purpose acquisition vehicles which are formed for the sole purpose of acquiring other businesses.

The company is offering 50 million units at $10 each. Each unit consists of one common share and one warrant. MAFS intends to list its common stock on the American Stock Exchange. (Reporting by Esha Dey in Bangalore; Editing by Amitha Rajan)