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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.

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"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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