Of 12 blank-cheque firms that have filed to go public in Hong Kong, only one has actually started trading. It’s a similar pattern in Singapore, where SPACs have stalled after three inaugural IPOs in January.
SINGAPORE: Asian sponsors of blank-cheque firms are facing a tough market for initial public offerings (IPOs) wherever they turn, as a combination of increasing regulatory scrutiny and fading investor demand shutters the window for new listings from the United States to Asia.
In the past three months, at least six Asia-related special purpose acquisition companies (SPACs) seeking a combined US$1.3bil (RM5.7bil) from US IPOs have been scrapped, according to data provider SPAC Research.
