Japan is considering changing its rules to allow initial public offerings by blank-check companies in the country, according to the Nikkei, Bloomberg reports.
The country’s Financial Services Agency, its Ministry of Economy, Trade and Industry and the Tokyo Stock Exchange will reportedly begin discussions this summer. The cabinet plans to include the issue in its growth strategy plan in June.
Given the time it takes for the Tokyo Stock Exchange to amend IPO procedures and to come up with new rules, SPAC listings may become possible as early as next year, according to the Nikkei. Japan’s SPAC rules are likely to have more checks and investor protections than in the U.S., it said. Read more.
