Singapore Exchange Consults on Proposed Listing Framework for SPACs

The proposal covers broad admission criteria; conditions for founding shareholders, the management team, and controlling shareholders; and business combination requirements.

On 31 March, the (SGX) published a consultation paper proposing a primary listing framework for special purpose acquisition companies () to list on the Mainboard of the Exchange Securities Trading Limited (Mainboard) (SPAC Framework).

The SPAC Framework aims to propose a balanced regime that safeguards investors’ interests against specific concerns surrounding features of SPACs, while also meeting capital-raising needs in the market. The proposal covers the broad admission criteria for a SPAC listing; conditions for founding shareholders, the management team, and controlling shareholders; and the business combination requirements.

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Source: Singapore Exchange Consults on Proposed Listing Framework for SPACs