The Singapore Exchange is Asia’s first major bourse to allow the listing of SPACs in a move that the city-state hopes will attract more firms to raise funds amid a stagnating IPO market.
The SGX has introduced a new framework to enable SPACs to list on the exchange, such as minimum market capitalization requirements, minimum SPAC IPO price, and minimum public float, among others.
Singapore’s benchmark index has traditionally been dominated by companies in property and finance, but through SPACs, the SGX has set its sights on attracting tech companies, ASEAN Briefing reports. Read more.
