Investors still interested in Singapore SPACs

Despite a more challenging environment for the investment vehicles this year, investors still have an appetite for special purpose acquisition companies (SPAC) listed in Singapore, according to an SCMP report. SPACs, also known as blank cheque companies, raise capital via traditional initial public offerings (IPO) for the purpose of acquiring a privately held company. A merger with the publicly traded SPAC provides a private company with a cheap and fast listing route. There have been only three SPAC IPOs in Singapore even as the city-state introduced new rules last year to allow such companies to go public. Singapore Exchange Regulation CEO Tan Boon Gin, however, said SPAC listings have never been about a numbers game.