Hong Kong Capital Markets Update – Issue 10, December 2021
Hong Kong Capital Markets Update – Issue 10
HKEX’s consultation conclusions on SPAC
On 17 December 2021, the Stock Exchange of Hong Kong Limited (the “Exchange”) published the consultation conclusions (“Conclusions”) on the proposals to create a listing regime for special purpose acquisition companies (“SPACs”) in Hong Kong.
As a continuing effort to keep Hong Kong a competitive international financial centre and attract Greater China and South East Asia companies to list in Hong Kong that may otherwise choose to list elsewhere via De-SPAC Transactions, the Exchange published a consultation paper (“Consultation Paper”) on 17 September 2021 seeking market feedback on proposals to create a listing regime for SPAC in Hong Kong (for the summary, please refer to our Capital Markets Update Issue 2021-06). The consultation period ended on 31 October 2021.
The Exchange concluded that the proposals outlined in the Consultation Paper should be adopted with amendments in response to market comments.