Special-purpose acquisition companies (SPACs) have received a cooler than expected response in both Hong Kong and Singapore, with some launches from early in the year fizzling and few new applications emerging in recent months. Hong Kong, where SPACs launched in December 2021, has seen no new filings in the past two-and-a-half months. The most recent prospectus, that of TechStar Acquisition,.
Last December, ride-hailing and delivery giant Grab made history with its back door listing on the Nasdaq stock exchange. It was the biggest US listing by a Southeast Asian firm and also the world’s largest special purpose acquisition company (SPAC) deal, valued at US$40 billion (S$54 billion). That evening, more than 200 investors, drivers and other employees gathered in a.