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IPO

Hong Kong's first SPAC gets tepid welcome from investors

IPO of China Merchants-backed Aquila Acquisition just meets HKEX's $128m minimum

China Merchants Bank is sponsoring the listing of Aquila Acquisition, Hong Kong's first SPAC.   © AP

HONG KONG -- The Hong Kong Stock Exchange is set to welcome its first special purpose acquisition company (SPAC) listing on Friday as competition to tap interest in the investment vehicles heats up among major Asian markets.

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