Seven companies that SPACs could target

"Heavy oversubscription" for SPACs targeting South-east Asia targets

Published Fri, Mar 5, 2021 · 05:50 AM

Blank-cheque companies

Singapore

ELIGIBLE companies in South-east Asia are fielding a frenzy of offers from blank-cheque vehicles listed in the US, as sponsors look towards the region to deploy capital before their two-year deadline.

There is "heavy oversubscription" for special purpose acquisition companies (SPACs) targeting South-east Asia, Udhay Furtado, managing director and co-head of Asia equity capital markets at Citi, told The Business Times.

The investor community is expecting more high-growth, consumer-focused technology companies like New York-listed Sea to emerge from the region, he said.

The SPAC boom could provide a timely exit for early-stage venture capital firms that face mounting pressure to show retu…