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Doris Yu · · 1 min readHong Kong regulator considers allowing SPACs to list on the exchange
“Hong Kong is exploring whether to allow special purpose acquisition companies (SPAC) to list in the Asian financial hub, indicating that a largely US phenomenon could be going global,” reported Reuters.
Details:
- Hong Kong financial secretary Paul Chan asked the Securities and Futures Commission and Hong Kong Exchanges and Clearing “to explore suitable listing regimes to enhance the competitiveness of Hong Kong as an international financial center, while safeguarding the interests of the investing public.”
- Chan said in an interview with Bloomberg that the government is considering allowing SPAC listings.
Context:
- Hong Kong tycoons like Richard Li have set up SPACs, while other players such as Traveloka and Bukalapak are eyeing a US listing via blank-check firms.
- Hong Kong was the second-most popular IPO market around the world last year. It recorded US$31.2 billion in deals last year, compared to Nasdaq’s US$51.3 billion, said the report, citing data from Refinitiv.
Editing by Collin Furtado and Jaclyn Tiu
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