Will the revival of SPACs on Wall Street spur such listings here?


Former banker Ian Yoong who was a promoter of Red Sena and one of its directors, says he understands that there are a number of parties looking to list SPACs on Bursa Malaysia. Like most of the recently listed SPACs in the US, these promoters are looking to have a technology focused SPAC.

SPECIAL purpose acquisition companies or SPACs have become a hot trend on Wall Street.

The amount of money raised by SPACs in the past 12 months has topped US$120bil, going by Bloomberg data. The fever is spreading closer to home. Indonesia’s Gojek and Tokopedia are considering floating SPACs in the US, instead of taking an initial public offering route.

Subscribe or renew your subscriptions to win prizes worth up to RM68,000!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Singapore Q3 GDP up 5.4% y-o-y, higher than advance estimate; 2024 forecast upgraded
Ringgit extends uptrend against greenback in early trade
FBM KLCI rebounds as Wall Street returns to a rally
Trading ideas: PetDag, Atlan, Thong Guan, Maxim, Globetronics, 7-Eleven, Petron, DRB-Hicom, Dayang, MSM, Aeon, SunCon, UEM Sunrise
Oil rises 2% as Russia-Ukraine war escalates
Wall St ends higher as Dow, S&P hit one-week tops
7-Eleven’s quarterly revenue climbs
SimeProp seeks quality assets for recurring income
Lower interest costs buoy TSH nine-month showing
Zetrix a profit driver for MyEG Services

Others Also Read