![]() ![]() However, to reduce the risk of creating a market for listing of substandard businesses and/or assets, HKEx has established a SPAC listing regime with more stringent rules than those of other markets, including U.S markets. ![]() capital market since 2020, the HKEx has strategically created its own listing regime for SPACs in Hong Kong to attract more issuers, investors and investments from the Greater China and Asia Pacific regions and other corners of the world, with a view to strengthening Hong Kong’s reputation and position as a primary financial hub in Asia.Īs Hong Kong has one of the most active stock markets in the world, the HKEx’s introduction of the SPAC listing regime has been long-anticipated by the market, including global financial institutions which will act as promoters and/or investors. in lieu of traditional IPOs and have lured many Asian issuers, investors and investments into the U.S. As SPAC listings have become an attractive listing alternative in the U.S. market, SPACs, also known as “Blank Check Companies,” are designed to raise funds in an initial public offering (“IPO”) with the aim of acquiring a private business at a later stage the rules of the HKEx generally prohibited the listing of such shell companies. On December 17, 2021, The Stock Exchange of Hong Kong Limited (the “HKEx”) announced the final rules of the new listing regime for Special Purpose Acquisition Companies (“SPACs”), effective from January 1, 2022. ![]()
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