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Singapore firm launches 'blank cheque' company IPO on Nasdaq

Special purpose acquisition company set up to acquire business that aims to prove rewarding for investors.

"We're looking at companies with revenue, a high entry barrier and a niche. It should have a strong management team," says James MengDong Tan, who heads 8i Enterprises.

HOMEGROWN 8i Group has launched and listed a special purpose acquisition company (SPAC) on Nasdaq, adding to an asset class that is increasingly attracting institutional and retail monies.

A SPAC is a "blank cheque company'', set up for the purpose of acquiring an operating business that...

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