A blank-check firm backed by VMS Asset Management has paused plans to go public in Hong Kong due to highly volatile markets, Reuters reports, citing a person with knowledge of the matter, clouding Hong Kong prospects for SPACs.
Vivere Lifesciences Acquisition’s $130 million SPAC share sale, set to have been Hong Kong’s second, is waiting for markets to stabilize before opening its books, said the person, declining to be identified as the information is private.
VMS did not respond to a request for comment.
The pause comes just months after regulators in January allowed blank-check companies to list on Hong Kong’s stock exchange, to compete with rival bourses and tap demand for such investment vehicles. Read more.
