Hong Kong’s First SPAC Wins Exchange Approval for IPO: Report

A blank-check company backed by China Merchants Bank Co.’s overseas asset management arm has become the first to win approval for an initial public offering in Hong Kong, Bloomberg reports.

Aquila Acquisition received the green light for a listing in the city yesterday. The SPAC will seek to raise about $300 million in the offering, a source told the news organization. Read more.

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