A special purpose acquisitions company is essentially a shell company set up by investors with the sole purpose of raising money through an IPO to eventually acquire another company. The specific acquisition target is not disclosed at the time of SPAC IPO.
The Hong Kong Stock Exchange introduced new rules, and the SPAC listing rules has officially come into force since January 1, 2022. Since the implementation of the new rules, SPAC has become the hottest topic recently. Joseph Lang, executive director of DL Holdings Group (1709. HK) and CEO of DL Securities, shared with us his views and expectations of SPAC in practical business.