Hong Kong’s blank-cheque companies are landing their first acquisition targets but corporate executives warn that tight rules are stifling the risk-taking they are meant to reward.
Last month heralded the first Hong Kong special purpose acquisition vehicle to close a deal, merging with Synagistics, a Singaporean ecommerce company.
The acquisition by the blank-cheque company, headed up by Norman Chan, former head of the Hong Kong Monetary Authority, is likely to be followed by two other mergers that are awaiting final approval from regulators.
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