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The Straits Times
Spac bubble fears lead Hong Kong, Singapore down cautious path
Pushed by the government, Hong Kong is said to target having its regime in place by the end of the year.PHOTO: REUTERS
PublishedApr 7, 2021, 7:30 am SGT
https://str.sg/JCzH
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HONG KONG: Hong Kong and Singapore are trying to get in on the boom in blank-cheque company listings, while safeguarding investors from what some say is a bubble about to burst.
Authorities in the Asian financial hubs are mulling tighter frameworks than in the United States for listings of special purpose acquisition companies (SPAC).
The US-led dealmaking boom has raised about US$100bil (RM413bil) so far this year even though it’s now showing signs of fizzling amid increased scrutiny by regulators.
“They are a bit too late to the party so it’s good that they are cautious, ” said Justin Tang, head of Asian research at United First Partners in Singapore.