Business

Hong Kong to consider SPAC listings

Hong Kong is considering the prospect of whether to permit Special Purpose Acquisition Companies (SPAC) to list in the Asian financial hub. The issue came to light after a government statement, issued by the country. “A SPAC is a blank-cheque company that raises money through an initial public offering (IPO) with the intention of merging with another firm, allowing that business to list more quickly.” Most of these companies are listed in the United States, Hong Kong’s future moves holds the potential to make this system global. Many of the nation’s tycoons have already set up SPAC and some are seriously considering to do so in the future. 

Source: Reuters

Link: https://www.reuters.com/article/us-hong-kong-spac/hong-kong-considering-allowing-spac-listings-idUSKCN2AU0CA

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