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

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The story "Tech start-ups shun Singapore and Hong Kong for US Spacs" was covered 2 months ago by Financial Times, a news publisher based in United States.

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Financial Times 2 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.