spac


Singapore aims for tighter rules than US to attract SPAC listings

Singapore aims for tighter rules than US to attract SPAC listings

(ATF) Singapore plans to impose more stringent rules than the US for so-called blank-cheque companies that seek a listing in the southeast Asian city state.On Wednesday, Singapore Exchange started a public consultation on a regulatory framework for listing special purpose acquisition companies (SPACs), which are shells that launch with the …

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US techies form SPAC to access Indian start-ups

US techies form SPAC to access Indian start-ups

(ATF) Riding on the boom in SPAC listings on Wall Street, a bunch of Indian unicorn founders have come together to form a first-of-its-kind blank cheque company to focus on Indian technology companies looking to list in the US.Called Think Elevation Capital Growth Opportunities (TEGAU), the new venture that filed …

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Former Commerzbank CEO files for fintech SPAC in Amsterdam

Former Commerzbank CEO files for fintech SPAC seeking €415m

A special purpose acquisition company (SPAC) founded by Martin Blessing, the former co-head of UBS’s Global Wealth Management business, has launched an initial public offering on Euronext Amsterdam to raise up to 415 million euros. Called European FinTech IPO Company 1 (EFIC1), the filing is targeting acquiring a financial services …

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Virgin Group’s Branson takes the SPAC route to raising $500m 

Virgin Group’s Branson takes the SPAC route to raising $500m 

Virgin Group's billionaire founder Richard Branson is looking to raise as much as $500 million through a SPAC-backed initial public offering, a regulatory filing showed on Tuesday.Virgin Group Acquisition Corp III, a special purpose acquisition company, or SPAC, plans to sell 50 million units, composed of shares and warrants, priced …

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Walmart-owned Flipkart 'eyeing US listing via SPAC'

Walmart-owned Flipkart eyeing US listing via SPAC

(ATF) The frenzy of a stock market listing via special purpose acquisition companies that has gripped the US seems to be catching on in India too, with an e-commerce giant reportedly trying to throw its hat in the ring.Walmart-owned Indian e-commerce giant Flipkart is exploring going public in the US …

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ReNew Power eyes Nasdaq via SPAC deal

ReNew Power eyes Nasdaq via SPAC deal

(ATF) ReNew Power Private Limited, which claims to be India’s leading pure-play renewable energy producer, has decided to go public in the US through a merger with a special purpose acquisition company (SPAC), to become the first firm from India to reverse merge with a US-listed blank cheque company.The Goldman …

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Travel app Traveloka’s next destination is fintech expansion  

Travel app Traveloka’s next destination is fintech expansion  

South-east Asia's biggest online travel start-up, Traveloka, is poised to “invest in fintech in a big way” as it also looks at listing this year.The firm is planning to launch financial services in Thailand and Vietnam after seeing a strong rebound in its business after the Covid-19 pandemic destroyed demand …

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South Korean companies plug into big plans for electric vehicles

South Korean companies plug into big plans for electric vehicles

(ATF) South Korean manufacturers plunged into electric vehicle (EV) development this week as Samsung SDI said it would invest $850 million to expand its battery factory in Hungary and Hyundai Motor launched a new model in a bid to capture 10% of global sales by 2025.Samsung SDI, an affiliate of …

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Tesla summoned to China regulators over technical, safety issues

Tesla summoned to China regulator over technical, safety issues

(ATF) Chinese regulators have summoned representatives of US electric vehicle (EV) manufacturer Tesla after reported technical and safety problems with their vehicles.“Consumers have cited multiple problems, related to unusual accelerations, batteries catching fire, as well as with the remote update system," the State Administration for Market Regulation said in a …

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SoftBank seeks $550 million through two new SPAC investments  

SoftBank seeks $550 million through two new SPAC investments  

(ATF) Two blank-cheque firms backed by SoftBank Group hope to raise a total of about $550 million in their initial public offerings (IPOs), regulatory filings show.SVF Investment Corporation 2, a special purpose acquisition company (SPAC), said it would sell 20 million shares and warrants at $10 each in its IPO, …

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