Apr 28, 2022 09:30 PM

In Depth: Will Wind Go Out of SPACs’ Sails in Singapore and Hong Kong?

After a record number of special purpose acquisition companies (SPACs) came onto the stage in the U.S. stock market in 2020, Hong Kong jumped on the bandwagon this year, with shell company Aquila Acquisition Corp. on March 18 becoming the first SPAC to list on the Hong Kong Stock Exchange (HKEX).

This came after Hong Kong adopted new listing rules on Jan. 1 that opened the door to IPO applications from SPACs. In the three months since the new rules came into effect, a total of 11 SPACs submitted IPO applications to the HKEX, including Aquila.

You've accessed an article available only to subscribers
Share this article
Open WeChat and scan the QR code
Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.

We ‘ve added you to our subscriber list.

Manage subscription
Caixin-Sinica Business Brief: Hong Kong to Allow Retail Investors to Trade Crypto