SINGAPORE — Singapore and Hong Kong startups are bypassing their home bourses to join special purpose buyout companies (SPACs) in the US as fundraising vehicles in Asian financial centers have yielded little to plans their output.
Information from financial data provider Refinitiv shows that at least nine Singapore and Hong Kong companies this year have announced plans to go public with US-listed SPACs, despite the cities offering a number of these shell companies since the first quarter — none of which have successfully merged with a target business.
