Blank-check listings provide an alternative route for private companies to go public. Source: Thinkstock |
New listings of blank-check companies in Singapore and Hong Kong will likely be constrained by competition from relatively strong IPO markets, more stringent regulatory requirements and difficulties in finding targets.
Singapore has hosted three listings of special purpose acquisition companies since the city-state allowed such listings in September 2021, including Temasek Holdings (Pvt.) Ltd.-backed Vertex Technology Acquisition Corp. Ltd. and Tikehau Capital-backed Pegasus Asia. Hong Kong Exchanges and Clearing Ltd. has not hosted any SPAC listings since its framework became effective Jan. 1, although it received 10 applications as of March 16, a spokesperson of the bourse said. The applicants include Aquila Acquisition Corp., which is set to list on March 18, the spokesperson added.
Singapore Exchange Ltd. declined to disclose the number of listing…