Blog
HKEX Issues Consulting Paper on Special Purpose Acquisition Companies
Blog
HKEX Issues Consulting Paper on Special Purpose Acquisition Companies
September 24, 2021
On September 17, 2021, the Stock Exchange of Hong Kong published a consultation paper on Special Purpose Acquisition Companies (SPACs). Winston’s capital markets attorneys in Hong Kong and the United States outline the key proposals and compare them with the SPAC regime in the United States, in terms of investor suitability, assessment of SPAC promoter, independent third-party investments, funds held in trust, minimum market capitalization, deadlines, eligibility of de-SPAC targets, size of the de-SPAC target, listing requirements, dilution cap, shareholder votes on de-SPAC transactions, open market requirements, warrants, redemption options, and de-listing and liquidation.
This entry has been created for information and planning purposes. It is not intended to be, nor should it be substituted for, legal advice, which turns on specific facts.