Singapore said on Thursday that it would allow special purpose acquisition companies (SPACs) to go public on its bourse starting Friday, as the city state hopes to become the go-to market in Asia for what has been one of the hottest fundraising trends globally in the past 18 months.
The so-called blank-cheque companies have raised more than US$122 billion this year alone, primarily through listings in the United States. However, they have proven to be popular with Asian sponsors and target companies, prompting a race between Hong Kong and Singapore to see who would be the first to offer listings for these investment vehicles.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
