In Singapore, the SGX has finalized the framework for SPAC listings.
The final framework reduces the minimum market cap necessary for a SPAC listing from S$300 million recommended in SGX's March consultation to S$150 million.
“SGX’s SPAC framework will give companies an alternative capital fundraising route with greater certainty on price and execution. We want the SPAC process to result in good target companies listed on SGX, providing investors with more choices and opportunities. To achieve this, you can expect us to focus on the sponsors’ quality and track record. We have also introduced requirements that increase sponsors’ skin in the game and their alignment with shareholders’ interest,” said Tan Boon Gin, CEO of Singapore Exchange Regulation (SGX RegCo).
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