The Korean SPAC market with typical offerings of around 10 billion won ($800,000) is now witnessing consecutive listings of large-scale SPACs with over 30 billion won.
Pulse reports that KB Securities Co. is conducting book building for KB SPAC No. 24, which has a public offering size of around 32 billion won. KB Securities recently completed the merger of KB SPAC No. 20 and Opticore within the past six months and submitted two merger applications for other SPACs.
Considering that many previously listed SPACs had public offering sizes of around 10 billion won, the current SPAC listings are targeting companies with a market value of around 300 billion won. Read more.