From Hong Kong tycoon Richard Li to Citic’s private-equity arm, SPACs are gaining traction in Asia

News Snapshot:

Surging popularity in the US has Asia-based funds seeking to tap red-hot SPAC capital raising trend So-called blank-cheque companies remain in their ‘infancy’ in the region Surging popularity in the US has Asia-based funds seeking to tap special purpose acquisition companies, this year’s red-hot capital raising trend, according to deal makers. Once rarely seen in the region, Asian financial sponsors and target companies are beginning to embrace what has been this year’s hottest fundraising trend, special purpose acquisition companies (SPACs), according to deal makers. The frenzy around these “blank-cheque” companies has spurred US$71.2 billion in fundraising globally so far this...