Tech start-ups shun Singapore and Hong Kong for US Spacs

Financial Times LogoFinancial Times2 mo ago

Tech start-ups shun Singapore and Hong Kong for US Spacs - Financial Times

Quick Summary:

Most private companies prefer US-based Spacs over those from other regions,” Ailawadi told Nikkei Asia.“Similarly, US-listed companies attract better analyst coverage, which translates into higher institutional investor interest.

The minimum requirement is $127mn for Hong Kong Spacs and $106mn for their Singapore counterparts, compared with a minimum of $50mn for a Nasdaq listing and $100mn for a New York Stock Exchange listing in US.“Valuations in the US are generally higher than in Asian markets.

Mak stressed that most Spac targets are growth companies that continue to show a negative operating cash flow — performance that investors are shunning due to rising interest rates and recession risks.“The number of Spacs globally might have outpaced the number of companies looking to be listed.

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Article Details

Author / Journalist: Dylan Loh

Category: MarketsFinanceInvesting



Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-11-30 @ 23:00:59 (2 months ago)

News Timezone: GMT -5:00

Ranking: #87 (out of 6565 stories this day)

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Language: English

Article Length: 1543 words

Reading Time: 9 minutes read

Sentences: 49 lines

Sentence Length: 32 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 2068204

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