The local bourse’s plans contain safeguards not seen in New York, including limiting SPACs to professional investors and mandating a minimum size of $128 million.
These, bankers fear, will deter SPAC promoters even as they acknowledge tougher rules are needed because of the city’s history of questionable backdoor listings. The minimum size is still beyond many cash-seeking startups, for example. Hong Kong could perhaps make more of a difference by targeting those smaller companies rather than trying to copy New York.
Source: News Formal (newsformal.com)
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