The craze for blank-check companies could pick up in Asia, where more regional start-ups are likely to explore that route to list, seeking to tap the advantages of familiarity among investors, time zones and less onerous paperwork. On 17 September, Hong Kong Exchanges and Clearing opened a consultation on its proposed rules for special purpose acquisition companies (SPACs), which are skeleton organisations that launch with the intention of buying and reverse merging with a private company. The Singapore Exchange is reported to be in discussion with potential listing candidates after its SPAC framework came into effect on 3 September. Elsewhere in the region, South Korea and Malaysia has allowed blank-check companies to list.
News source: S&P Global