Hong Kong Proposes SPAC Listings, But Only for Pro Investors: Report

Hong Kong Exchanges & Clearing, Asia’s busiest stock exchange, has outlined plans to allow the listing of blank-check companies whose global popularity has soared over the past year, just two weeks after regional rival Singapore greenlit the float of SPACs, Nikkei Asia reports..

HKEX, however, proposes to take a more restrictive approach than Singapore or the U.S.

Under the proposal offer for public comment, only institutional investors or individuals with a portfolio worth at least 8 million Hong Kong dollars ($1.03 million) would be allowed to invest in Hong Kong SPACs.

HKEX would also require that at least one of the sponsoring investors listing a SPAC be an asset manager or corporate finance adviser licensed in Hong Kong. Read more.

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