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Singapore Exchange cuts required SPAC market cap by 50% to $112m

Such entities must merge with targets within 24 months under new framework

The Singapore Exchange cut the required market cap for SPACs by half after consultation revealed that stakeholders found the previous level prohibitively high.   © Reuters

SINGAPORE -- The Singapore Exchange is cutting by half the minimum market capitalization required of special purpose acquisition companies, or SPACs, to list on the bourse, responding to concerns that the previous level was too high.

SGX on Thursday announced SPACs must list with a minimum market cap of $150 million Singapore dollars ($111.6 million), half the level it suggested in March, after months of mulling over market feedback.

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