SINGAPORE -- Singapore is considering options to lure capital for special purpose acquisition companies, or SPACs, away from the current boom in the U.S., although challenges await the Asian financial hub. The Singapore Exchange announced on Wednesday a regulatory framework for SPACs to list on the SGX and asked the market for feedback.
Sometimes called "blank check" companies, SPACs are shell companies established to raise money through an initial public offering to eventually acquire -- or merge with -- the target company. This lets the target company go public more quickly than through a traditional initial public offering.
