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31 Mar, 2021 Author Rebecca Isjwara
Singapore plans to have more stringent rules with a stronger emphasis on governance than in the U.S. for blank-check companies that seek a listing on the Asian financial center s exchange.
Singapore Exchange Ltd. started a public consultation on March 31 for a regulatory framework for listing special purpose acquisition companies, which are skeleton organizations that launch with the intention of buying and reverse merging with a private company. Under the proposed rules, investors in these companies won t be allowed to cash out as soon as the SPAC merges with a private entity, and sponsors won t be allowed to vote on a business combination, two key departures from the regulation in the U.S.
UPDATE 1-Singapore Exchange explores joining SPAC party but with restrictions
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Singapore bourse proposes allowing SPAC listings but with restrictions
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Global IPO Market Eyes Record First Quarter Even as SPACs Falter
Bloomberg 3/13/2021 Swetha Gopinath, Myriam Balezou and Julia Fioretti
(Bloomberg) The global market for initial public offerings is headed for its biggest-ever first quarter, even as skepticism grows about the U.S.-led boom in blank-check listings that fueled the frenzy.
A record $162.4 billion has been raised by more than 600 issuers in 2021, the most ever at this point in the year, data compiled by Bloomberg show, with special-purpose acquisition companies accounting for half of the proceeds. In comparison, just $37 billion was raised in the first three months of 2020.
Unprecedented monetary and fiscal stimulus, ultra-low interest rates and until recently at least global markets at record levels helped fuel both traditional and SPAC listings, with issuers rushing to sell while investor demand is hot and valuations high. Stock prices have been underpinned by optimism that vaccines will t
Global IPO Market Eyes Record First Quarter Even as SPACs Falter
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