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Chinese SPAC TenX Keane Acquisition files for IPO in US

Asia-focused blank-check company to raise $50m for unspecified merger

TenX Keane Acquisition plans to list on the Nasdaq under the symbol TENKU.   © Reuters

CEBU, Philippines -- TenX Keane Acquisition, a China-based blank-check company, joins a flood of special purpose acquisition companies (SPACs) planning initial public offerings in the U.S., as it looks to raise $50 million to merge with an unspecified company.

The Asia-focused SPAC, led by Taylor Zhang, chief financial officer of Nasdaq-listed China XD Plastic, hopes for a valuation of $200 million to $600 million, according to its filing.

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