Bursa attracting special purpose acquisition companies

KUALA LUMPUR: Malaysia's bull market is seeing a type of initial public offering (IPO), still fairly new to Asia, that takes a special kind of company public: one with no profits, revenues or assets.

CLIQ Energy Bhd last week became the second such firm, known as a special purpose acquisition company (SPAC), to list in Kuala Lumpur, with three more preparing for IPOs.