Active role: The SGX building in the central business district of Singapore. While a craze in SPACs has fizzled out in the US since early 2021 amid regulatory scrutiny and poor returns, SGX hosted three SPACs last month in their first major debut in Asia. — Reuters
AFTER years of struggling to emerge from the shadows of regional rivals, Singapore Exchange (SGX) is looking to establish itself as the hub for blank- cheque firms, riding on regulatory overhaul, support by state firms and a tech boom in its backyard.
Encouraged by the flurry of South-East Asian tech startups seeking funding and the bourse’s revised rules, Singapore could list up to a dozen special-purpose acquisition companies (SPACs) within the next 12 to 18 months, bankers, venture capitalists and analysts said.
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