Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Financial firms race to list first SPAC in Hong Kong and Medikabazaar targets unicorn status in 2022
Financial Firms’ Race to List First SPAC in Hong Kong Heats Up As HKEX Decision Nears
Financial firms are busy working with wealthy clients to be among the first to list SPACs in the city in anticipation of Hong Kong Exchanges and Clearing (HKEX) giving its approval to blank-check companies, according to South China Morning Post.
HKEX chief executive Nicholas Aguzin on Wednesday said a decision on SPACs will be made soon after the 45-day consultation period ends on Sunday, hinting that the first listing could happen shortly.
Singapore Exchange allowed SPACs to list from September 3, just one day after the bourse announced it had concluded the consultation on the subject
The Next Unicorn in India May Be CDC-Backed Startup Medikabazaar
Medikabazaar, an online platform selling medical supplies and equipment to some of India’s biggest hospital chains, aims to hit a $1 billion valuation within the next three to six months as it taps into an e-commerce funding boom in the country.
The parent company Boston Ivy Healthcare Solutions Pvt. expects to reach unicorn status by the end of its next round of series-D financing for about $150 to $200 million, according to Chief Executive Officer Vivek Tiwari. In three years the firm may publicly list in India or in the U.S. through a SPAC, he added.READ