Hong Kong could have a hard time attracting blank-check companies after it proposed a high threshold to list in the city, Bloomberg 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. It also set an eligibility test for SPAC promoters, including having managed HK$8 billion for at least three years. Read more.
