Singapore Exchange has become the first major bourse in Asia to allow blank cheque companies to list, even as the market attracts more intense scrutiny from global regulators.
Special purpose acquisition companies (Spacs) will be able to apply to list on the SGX from Friday, the bourse said on Thursday.
Entities will require a minimum market capitalisation of S$150m (US$111m) — half of the SGX’s earlier proposed amount — while limits on shareholder redemption rights have been removed. Following a market consultation, the SGX softened some measures it had initially proposed.
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