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HONG KONG (Reuters) - Asia s bankers say they expect the hottest trend in global deal-making, IPOs for special-purpose acquisition vehicles (SPAC), to rocket in the region this year from small beginnings, fuelled by well-resourced investors including private equity firms.
Globally, SPACs raised $92 billion from IPOs in first-quarter 2021, according to Refinitiv data, already surpassing al of 2020. SPAC mergers - when the blank check firm uses IPO funds to merge with a target - amounted to $210 billion.
But Asia s representation in the global pie has been small so far - about 11 out of 2021 s 304 SPAC IPOs, and just $4.7 billion in SPAC mergers. Given the region s large pool of new-economy companies, bankers are now plugging it as a hot spot for merger targets.
IBT Hottest Fintech Startups 2021: Disruptors To Watch For
There is perhaps no other time in modern history when recognizing the role of startups in driving transformational growth and creating inclusive and positive change is so important. The pandemic has accelerated the trends toward online services and cashless economies, reshaping the banking and financial services industry in the process. Much of this change is being driven by fintech startups as traditional companies in the space fight to adapt and survive.
The International Business Times Hottest Fintech Startups 2021 is an exclusive club of fintech disruptors and innovators who are helping to create a smarter, inclusive world. This list, created in partnership with specialist startup research organization StartUs Insights, showcases the fintech leaders driving the changes sweeping the sector.
The projections also showed that precipitation a threat to ice if it manifests as rain will likely increase on the peninsula by about 5 per cent to 10 per cent over that same time period.