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Hong Kong Stock Exchange to Allow SPAC Listings Next Month

Hong Kong Exchanges & Clearing Ltd. Rides Trading, IPO Surge to Record Profit
Photographer: Roy Liu/Bloomberg

Hong Kong unveiled its rulebook for blank check companies, allowing for listings at the start of next year while setting a strict regime to safeguard investors. 

After a consultation period on proposed rules, the city’s exchange decided to keep in place a fund-raising threshold of HK$1 billion ($128 million), while trimming the minimum required backing of institutional investors to 20, according to a conclusion released by the Hong Kong Exchanges & Clearing Ltd. on Friday. Retail investors are still barred from investing in the special purpose acquisition companies as proposed.