News Snapshot:
On March 18, Hong Kong Exchanges and Clearing Limited (HKEX) welcomed the first IPO of a special purpose acquisition company (SPAC). The firm, Aquila Acquisition Corp, was greeted with a lukewarm reception by investors, and shares are trading about 3 percent lower than their initial listing price. While investor momentum may take time to catch up, there is a high demand for SPAC public offerings, and HKEX has reported that they have received 11 applications for additional SPAC IPOs. While SPACs are already common in other major equities exchanges, including the New York Stock Exchange, Hong Kong has only recently...
