Hong Kong billionaire Richard Li Tzar-kai is in the early stages of setting up his fourth SPAC as more Asian-based entrepreneurs chase one of the hottest deal making trends this year, the South China Morning Post reports, citing people familiar with the talks.
The talks for Li’s latest SPAC are in very preliminary stages and there is no fundraising target set, they said. Under the Bridgetown Holding brand, Li has raised more than $1 billion from three SPACs over eight months.
Li, the younger son of tycoon Li Ka-shing, set up the blank-check company Bridgetown with billionaire Peter Thiel, the co-founder of PayPal. Read more.
