Vision Deal HK Acquisition Corp, backed by a former Alibaba Group executive, took a step towards a listing in Hong Kong after its share sale was fully subscribed by investors on Monday, reports the South China Morning Post, citing people familiar with the transaction.
The SPAC won approval from the Hong Kong stock exchange’s listing committee last week and began marketing its shares to institutional investors this week. The sale was fully covered by Monday evening, and a listing is slated for June.
Vision Deal was aiming to raise US$130 million and said it plans to buy and merge with companies in smart-car technologies and e-commerce. Read more.
