Spac Listings Are Not New for Western Exchanges but Are Relatively Fresh in Asia. the Sgx Became the First Asian Bourse to Introduce a Spac Framework Last September, with Its Regional Rival, the Hong Kong Exchanges and Clearing (Hkex), Following Suit in December.

Why Singapore Tech Giant Sea Is Making Waves in Southeast Asia

There Is Much to Celebrate. Loh Said Enabling Spac Listings Had Widened the Options of Companies Seeking Equity Financing. He Said It Would Not Be a “Spectacular Game Changer” in Any Stock Market, but Could – at the Least – Lift the Sgx, Which Has Struggled to Attract Listings in Recent Year's.

Strict Regulatory Environment

Yet, Some Analysts Were More Cautious in Their Reading of the Initial Buzz, Wary That the Stricter Regulations in Asia Could Turn Investors Away.

Is the Party over in Southeast Asia’s Post-Coronavirus Tech Scene?

Particularly, He Cited How the Absence of Public Investors Would Make the Listing of Shell Firms “Less Popular”, Adding That Some of These Rules Meant Reduced Flexibility for Investors.

Analysts Were Largely Confident That the Spurt of Spac Listings in Asia Could Be Maintained – Though They Added That Much Hinged on Whether the First Wave of Shell Firms Would Succeed.

How Chinese Money Is Driving Southeast Asia’s Start-up Scene

Johnson Chui, Co-Head of Asia-Pacific Equity Capital Markets at Credit Suisse, Said the Objective for Spacs in Asia Was Slightly Different Than for Those in the Us. “We Feel There Will Be a Lower Number of Spacs in Asia but Their Quality Will Be Higher with Targets [That Are] More Relevant for the Respective Local Exchanges. ”

After Grab’s Back Door Us Listing, Will Spacs Take off in Hong Kong and Singapore?

By Marcus Vance

• Oct 8, 2026 • 8 min read

After Grab’s Back Door Us Listing, Will Spacs Take off in Hong Kong and Singapore?

Direct Answer • Key Takeaway

Hong Kong’s First Spac, Aquila Acquisition, Made Its Trading Debut Last Week, with Professional Investors Ploughing over Hk$1 Billion (Us$128.3 Million), the Minimum Listing Threshold.

Marcus Vance

Cybersecurity & Digital Privacy Researcher

Marcus Vance is a cybersecurity auditor and technology writer dedicated to educating the public about online safety, data privacy regulations, enterprise security, and emerging cyber threats.

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