• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Singapore Exchange launches SPAC rules after easing some proposals

September 2, 2021 by David Barret Leave a Comment

September 2, 2021

By Anshuman Daga

SINGAPORE (Reuters) – Singapore Exchange unveiled new rules on Thursday to allow special purpose acquisition companies (SPACs) to list in the city-state, after rolling back some measures that were viewed as too strict by market participants.

Following a market consultation, SGX’s regulatory arm announced rules that included halving the minimum capitalisation requirement for SPACs to S$150 million ($112 million) from its initial proposal.

It also said it will now allow warrants to be detachable and all shareholders would have redemption rights.

SGX’s rules, effective from Friday, would make it the first Asian bourse to allow blank check companies to list after the frenzy seen in such investment vehicles in the United States since 2020, although the popularity seems to be peaking.

“SGX’s SPAC framework will give companies an alternative capital fund raising route with greater certainty on price and execution,” Tan Boon Gin, CEO of Singapore Exchange Regulation said in a statement.

Citing sources, Reuters reported on Wednesday https://ift.tt/2V7eqoA that the SGX was set to issue easier rules for SPAC listings.

SPACs are shell corporations that list on stock exchanges and then merge with an existing company to take that public, offering it shorter listing timeframes and strong valuations.

SGX, which has struggled to capture large listings of high-growth firms and faces prospects of losing out in courting Southeast Asian startups looking to list in their home markets https://ift.tt/2WsVX6E or in the United States, expects the rules to boost listings.

“We are actively engaging with potential sponsors and are expecting a robust pipeline of Asian-focused SPACs,” Mohamed Nasser Ismail, head of equity capital markets at SGX said in a statement.

In a consultation paper for SPAC listings issued in late March https://ift.tt/2WMP6VE, SGX had outlined measures to rein in risks seen in U.S. SPACs.

($1 = 1.3444 Singapore dollars)

(Reporting by Anshuman Daga; Editing by Kim Coghill)

Source Link Singapore Exchange launches SPAC rules after easing some proposals

David Barret
David Barret

Related posts:

  1. Fate of national daycare in the hands of Canadian voters
  2. Number of people with dementia set to jump 40% to 78 million by 2030 -WHO
  3. UK card spending slips to 93% of pre-COVID level – ONS
  4. Exclusive-Apple hit with antitrust case in India over in-app payments issues

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • New Human “Mini-Brains” Combine Cells From The Whole Brain – Even The Blood Vessels
  • Aging NASA Spacecraft Could Intercept The Interstellar Comet On The Other Side Of The Sun, Astronomers Suggest
  • The Deepest Complex Ecosystem Ever Discovered Has Been Found 9,000 Meters Below The Sea
  • Drone Footage Shows Synchronized Moves By Killer Whale Pairs Are More Effective Than Hunting Alone
  • For The First Time, A Quantum Computer Has Been Sent Into Space
  • A Vast Ocean Of Water May Be Trapped In The Transition Zone Beneath Our Feet
  • Beneath Antarctica’s Sea Ice, Leopard Seals Sing Nursery Rhymes In Search Of Love
  • Double-Slit Experiment Performed With Single Atoms Shows Einstein Was Wrong
  • Forecasting Tomorrow: How Science Fiction Is Helping Scientists Explore Possible Futures
  • Siberian Mummy’s 2,000-Year-Old Tattoos Reveal The History Of Ancient Art
  • Humans Were Buzzing On Psychoactive Betel Nuts 4,000 Years Ago
  • Megaflash Stretching 892 Kilometers Sets New World Record For Longest Lightning Strike
  • Your Organs Don’t All Age At The Same Rate. One Is Growing Old Much Quicker Than Others
  • IFLScience The Big Questions: How Has The Internet Changed The Way We Use Language?
  • One Of The Most Dangerous Volcanoes Is Home To The World’s Largest Lava Lake
  • What Astrobiology Might Tell Us About What Aliens May Look Like
  • Voyager: An Inside Look At NASA’s Longest-Running Mission With Someone There From The Start
  • Meet Alba: The World’s Only Known Albino Orangutan Still Living In Borneo
  • Yikes! Baby African Social Spiders Filmed Eating Their Moms Start-To-Finish For The First Time
  • Why Is The Great Rift Valley So Important In Our Understanding Of Human Evolution?
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version