SGX to allow SPAC listings from Friday, with minimum market cap of S$150m
SPECIAL purpose acquisitions companies (SPACs) will be able to apply for a listing on the Singapore Exchange (SGX) mainboard from Friday, and market watchers said the much-anticipated introduction of listing rules for these corporate shells could potentially liven up the capital markets here.
The new rules, announced on Thursday evening, contain several safeguards first mooted in March - such as minimum equity participation by sponsors at the initial public offering (IPO), to align interests between sponsors and shareholders.
But some rules - such as those for minimum market capitalisation and redemption rights - have been eased compared to proposals in the consultation paper.
TRENDING NOW
World’s largest offshore wind platform by Seatrium consortium on track to be completed by 2028
Is stamp collecting enjoying an analogue revival or are its best days over?
GovTech retrenches another 38 staff in second round of layoffs
MBS adjusted property Ebitda falls 20.6% in Q3 with fewer high-roller visits, weaker hold
