Singapore Rolls Out SPAC Rules as Global Scrutiny Rises
- SPACs will be allowed to list in Singapore starting Friday
- Global watchdogs seek to improve function of SPACs, limit risk
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Singapore Exchange Ltd. has introduced a framework for blank-check companies to list in the city-state, the first Asian financial hub to host the vehicles whose popularity in global financial markets has surged over the past year.
Special purpose acquisition companies, or SPACs, will be allowed to list in Singapore starting Friday under a more liberal rulebook than initially envisioned by the exchange. The entities require a minimum market capitalization of S$150 million ($112 million), half of the amount SGX proposed earlier, while certain limits on warrants and share redemption have been removed, a statement from the bourse showed Thursday.