SGX launches consultation on SPACs, with proposals to minimise dilution and better align interest
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SINGAPORE Exchange (SGX) has launched a consultation on Special Purpose Acquisition Companies (SPACs), with proposals to address some of the risks posed by the listing structure.
SGX Regulation (SGX RegCo) is seeking feedback on a framework that would attempt to reduce some of the risks of excessive dilution for long-term investors, as well as the rush for sponsors to de-SPAC.
"Ultimately, we want our SPACs to be credible listing vehicles that result in successful value-creating business combinations for their shareholders," said SGX RegCo chief executive Tan Boon Gin at a media briefing. "This will increase investor choice, and add depth and diversity to our market."
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