Hong Kong could see the first special purpose acquisition company listed on its local exchange by the end of this year, joining the global blank check boom.
Hong Kong could see a SPAC listing framework ready in June for public feedback, according to a «Bloomberg» report citing unnamed sources, and an official listing by the end of the year.
This follows Hong Kong financial secretary Paul Chan’s call earlier this month for the local exchange and regulator to explore the addition of SPACs to the market.
Tighter Than U.S.
According to the report, rules for sponsors and buy-out targets will be tighter than those enforced in the U.S., including compliance with existing standards for IPOs.
Sponsors may also be required to have a track record in money management.
The timeline and regulatory framework for rolling out the SPAC framework could still change, the report added.
