Asia’s richest families and individuals are jumping on the SPAC wagon, investing in the blank-check companies that have taken global markets by storm.
Hong Kong is exploring whether to allow Special Purpose Acquisition Companies (SPAC) to list in the Asian financial hub, according to a government statement, indicating that a largely U.S. phenomenon could be going global.
A frenzy of SPAC mergers took place in 2020. In the coming year, blank check companies may give Southeast Asian tech companies a route to new investors.
A new fundraising frenzy that swept Wall Street this year looks set to take hold in Asia with more than a dozen special purpose acquisition companies, or SPACs, on the hunt for fast-growing technology firms that are ready to go public.
Bridgetown Holdings Ltd., the blank-check company backed by billionaires Richard Li and Peter Thiel, is considering a potential merger with Indonesia’s e-commerce giant PT Tokopedia, according to people with knowledge of the matter.