Will the revival of SPACs on Wall Street spur such listings here?

Former banker Ian Yoong who was a promoter of Red Sena and one of its directors, says he understands that there are a number of parties looking to list SPACs on Bursa Malaysia. Like most of the recently listed SPACs in the US, these promoters are looking to have a technology focused SPAC.

SPECIAL purpose acquisition companies or SPACs have become a hot trend on Wall Street.

The amount of money raised by SPACs in the past 12 months has topped US$120bil, going by Bloomberg data. The fever is spreading closer to home. Indonesia’s Gojek and Tokopedia are considering floating SPACs in the US, instead of taking an initial public offering route.