Hong Kong’s Planned SPAC Rules Could Give it an Edge in Attracting Chinese Tech, Biotech Firms: Report

Hong Kong’s proposed listing rules for SPACs could give it extra firepower in the race to attract Chinese new economy companies and biotechnology firms, according to deal makers and market observers, reports the South China Morning Post.

However, some safeguards designed to protect retail investors may make the city’s bourse less competitive with New York and Singapore in securing IPOds by SPACs themselves without some fine-tuning, they said. Read more.

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Surf Air Mobility Announces Anticipated Date for Direct Listing

The direct listing comes eight months after the company terminated a merger agreement with Tuscan Holdings II. The SPAC disclosed at the time that if Surf Air completes a direct listing, IPO, a SPAC transaction or a sale by Nov. 14, 2025, Surf Air will issue to Tuscan 600,000 shares and reimburse Tuscan’s expenses by issuing an additional 35,000 shares or paying the SPAC $700,000 in cash.