Tech Company Grab Said to be Nearing $35B SPAC Deal: Report

The SPAC market has cooled in recent weeks, with companies that went public by merging with a blank-check entity trading well off their highs, and a growing number of regulatory hurdles emerging for an investment strategy that often dominated financial news headlines in 2020, PitchBook reports.

In a consultation paper, Hong Kong Exchanges & Clearing Ltd. proposed that SPACs would need to raise at least HK$1 billion ($128 million) when listing and that retail investors would be barred from participating.