Tokyo bourse chief says SPACs possible in Japan but only with safeguards

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TOKYO : Japan could open up to blank-cheque listings but with its own safeguards for investors, the head of the Tokyo bourse said, as the government scrambles to grow startup firms as a way to revitalise the world's third-largest economy.The Tokyo Stock Exchange (TSE) has set up a study group to discuss t

TOKYO : Japan could open up to blank-cheque listings but with its own safeguards for investors, the head of the Tokyo bourse said, as the government scrambles to grow startup firms as a way to revitalise the world's third-largest economy.

"I think it's possible to introduce a SPAC listing scheme ," Hiromi Yamaji told Reuters in an interview. Rival Asian financial hubs Singapore and Hong Kong have recently opened up to SPACs, though the pace of capital raising through SPACs in the U.S. has fizzled out due partly to a regulatory crackdown.

From the perspectives of startups, it will be better to have diversified fund-raising routes including SPACs, Yamaji said.

 

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