Investors still have an appetite for SPACs listed in Singapore despite a “more challenging” environment for the investment vehicles this year, according to the head of the Singapore Exchange’s regulatory arm, reports The South China Morning Post.
Singapore and Hong Kong both introduced new rules last year to allow blank-check companies to go public on their bourses amid a fervour for the listings among investors and sponsors that saw more than $162 billion raised by the vehicles globally in 2021.
However, the uptake on both exchanges has been somewhat muted this year as fundraising globally has slipped to less atmospheric levels. There have been only three SPAC IPOs in Singapore – the biggest being Temasek Holdings-backed Vertex Technology Acquisition – and one Hong Kong-listed SPAC, Aquila Acquisition, to debut since the beginning of the year. Read more.
