Hong Kong Exchanges and Clearing (HKEX) will allow special purpose acquisition company (SPAC) listings from Jan 1, 2022.
Its CEO Nicolas Aguzin said its new SPAC listing regime reflects the exchange’s commitment to continue building Hong Kong’s reputation as the region’s premier capital-raising market, reinforcing its global role as a world-leading international financial centre.
“By enabling experienced and reputable SPAC promoters to source listings from new and innovative industries, we look to help fuel the growth of the companies of tomorrow,” said Aguzin.
The exchange received 90 non-duplicate responses to the consultation on the proposed regime from a broad range of respondents, including SPAC promoters, professional bodies, investment managers, corporate finance firms and individuals. The majority of its proposals received support from over 80% of respondents who expressed views.
HKEX head of listing Bonnie Y Chan said the new rules will be implemented broadly as proposed, with amendments to accommodate some commercial factors whilst ensuring the quality of listings.
The exchange published its consultation paper seeking market feedback on proposals to create a listing regime for SPAC back in September.
See also: Hong Kong's first de-spac listing still leaves sector in limbo
Photo: Bloomberg
