Analysis: New blank-check firms arm up for Asian unicorn hunt By Anshuman Daga and Kane Wu
FILE PHOTO: FILE PHOTO: Gojek driver helmets are seen during Go-Food festival in Jakarta
SINGAPORE/HONG KONG (Reuters) – A new fundraising frenzy that swept Wall Street this year looks set to take hold in Asia with more than a dozen special purpose acquisition companies, or SPACs, on the hunt for fast-growing technology firms that are ready to go public.
SPACs are exchange-listed shell companies that raise money through initial public offerings (IPOs) and merge with firms by enticing them with shorter listing timelines. Such structures have raised a record total of more than $70 billion in the United States this year, making them one of the hottest Wall Street investment trends of 2020.
Analysis: New blank-check firms arm up for Asian unicorn hunt - Netscape Money & Business
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