A SPAC is a blank-cheque company that raises money through an initial public offering with the intention of merging with another firm, allowing that business to list more quickly.
Hong Kong’s markets regulator, the Securities and Futures Commission and exchange operator Hong Kong Exchanges and Clearing briefed a forum of top financial leaders in the city about latest developments in SPACS on Monday, according to the statement issued that evening. Chan said in an interview with Bloomberg TV on Tuesday that the government was seriously looking into allowing SPACs.
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