SPAC 2.0 shift is a dilemma for Asian billionaires

SPAC 2.0 shift is a dilemma for Asian billionaires

(ATF) Prices for special purpose acquisition companies (SPACs) have slipped since US regulators indicated a clampdown on some industry practices. A shift to a SPAC 2.0 market may not be entirely negative for investors but Asian billionaires looking to join the listing party now have key decisions to make. The …

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Investors call on banks to set tougher emissions standards

Investors call on banks to set tougher emissions standards

(ATF) Investors managing $11 trillion in assets have called on banks to set tougher emissions targets ahead of a meeting of world leaders aimed at accelerating efforts to fight climate change. The group, which includes Pimco, the world's biggest bond investor, and Legal & General Investment Management, the UK's biggest …

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New STAR Market listing rules dim hope of Ant Group IPO

New STAR Market listing rules dim hope of Ant Group IPO

(ATF) China’s top securities regulator said on Friday it will restrict fintech companies and prohibit financial services companies from listing on the Nasdaq-style STAR Market – a move that analysts say will likely make Jack Ma’s online finance titan Ant Group unqualified for a revived IPO on the science and …

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Markets this week: Growth optimism, bumper earnings to drive

Markets this week: Growth optimism, bumper earnings to drive

(ATF) Economic events Financial markets are seen trading on a positive note at the start of the week following a sustained flow of upbeat earnings from the world’s largest economy and abating inflation fears which took the pressure off US Treasuries. Morgan Stanley’s strong results last week wrapped up a …

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Huarong panic may prompt China sovereign wealth fund move

Huarong panic may prompt China sovereign wealth fund move

(ATF) Debt prices for China’s largest bad debt investor Huarong Asset Management slumped on Tuesday April 13, and fear of contagion for other issuers prompted speculation that the nation’s sovereign wealth fund will step in to assume some of its liabilities. Bonds issued by Huarong slumped on Tuesday after rating …

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ByteDance valuation soars to $400bn as IPO talk intensifies 

ByteDance valuation soars to $400bn as IPO talk intensifies 

(ATF) ByteDance, the parent company of popular short video app TikTok, has reportedly set in motion an initial public offering (IPO) for Hong Kong with a US$400 billion valuation. The valuation of the Beijing-based start-up is swelling quickly as the market capitalisation of its rival Kuaishou has almost doubled since …

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Grab Holdings deal could set a new SPAC record despite SEC warnings

Grab Holdings deal could set a new SPAC record despite SEC warnings

(ATF) Grab Holdings, the Southeast Asian ride-hailing and delivery firm is reportedly near a deal with a special purpose acquisition company (SPAC) that could set a new record for the sector at a value of around $34 billion. Any deal would come soon after the Securities and Exchange Commission (SEC) …

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