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Primavera, ABCI Weighing to Join Hong Kong SPAC Race, Sources Say

  • Blank-check company could target firms in consumer sector
  • Regulators finally unveiled rulebook for SPACs in December
Updated on

Buyout firm Primavera Capital and the investing arm of ABC International Holdings Ltd. are considering forming a blank-check company to list in Hong Kong, according to people familiar with the matter, as the Asian financial hub prepares to welcome the first such vehicles to its stock exchange.

ABCI’s investment banking arm and JPMorgan Chase & Co. are working on the special purpose acquisition company’s potential initial public offering, the people said, asking not to be identified as the information is private. The SPAC could raise a few hundred million dollars, and could target a merger with a firm in the consumer sector, they said.