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2 Mar, 2021 Author Rebecca IsjwaraXiuxi Zhu
Hong Kong and Singapore, Asia s most established financial centers, are taking very different approaches to blank-check companies, alternatives to traditional IPOs that are gathering steam in the region where takeover targets are plentiful.
Singapore Exchange Ltd. is reportedly working toward listing special purpose acquisition companies, which are skeleton organizations that launch with the intention of buying and reverse merging with a private company, as early as 2021. On the other hand, Hong Kong Exchanges & Clearing Ltd., where companies raised several times more funds from IPOs than its Singapore counterpart in 2020, is treading a cautious path.
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9 Feb, 2021 Author Rebecca IsjwaraXiuxi ZhuFrancis Garrido
Southeast Asia, where the technology startup scene thrives on economic growth and a chronic need to boost financial inclusion, is fertile ground for acquisitions for listed blank-check companies in 2021, analysts say.
Special purpose acquisition companies, which are skeleton organizations that launch with the intention of buying and reverse merging with a private company, have become popular alternatives to traditional IPOs to take companies public. SPACs from around the world are mostly listed in stock exchanges in the U.S., where the listing rules require them to acquire private assets from any country within two years after debut. A surge of newly listed SPACs in 2020 suggests that more companies are on the hunt for deals before their two-year deadline is up.