HKEX Publishes Consultation Conclusions on Hong Kong SPACs

On 17 December 2021, the Stock Exchange of Hong Kong Limited (“HKEX”) published conclusions to its consultation on creating a listing regime for special purpose acquisition companies (“SPACs”) in Hong Kong (the “HKEX SPAC Consultation Conclusions”) with the relevant amendments to the Rules Governing the Listing of Securities on HKEX to take effect on 1 January 2022 (the “ HKEX SPAC Rules”). For a summary of the original consultation paper proposals, please see Charltons’ October 2021 newsletter.

During the consultation period, the HKEX received 90 non-duplicate submissions from various SPAC Promoters, professional bodies, investment managers, corporate finance firms and individuals, in which the respondents were generally supportive of the majority of the proposals.

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