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IPO

Hong Kong proposes SPAC listings, but only for professional investors

Exchange's entry into race for 'blank-check' IPOs shadows Singapore's move

The International Finance Centre, HSBC headquarters and the Bank of China are seen in Hong Kong.   © Reuters

HONG KONG -- Hong Kong Exchanges & Clearing, Asia's busiest stock exchange, has outlined plans to allow the listing of blank-check shell corporations whose global popularity has soared over the past year, just two weeks after regional rival Singapore greenlit the float of such entities.

HKEX, however, proposes to take a more cautious approach than Singapore or the U.S., the main hub for special purpose acquisition companies (SPACs).

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