Hong Kong's first spac wins exchange approval for IPO, sources say

Bloomberg
Bloomberg2/25/2022 04:24 PM GMT+08  • 2 min read
Hong Kong's first spac wins exchange approval for IPO, sources say
Aquila Acquisition Corp received the green light to raise about US$300 million
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A blank-check company backed by China Merchants Bank Co’s overseas asset management arm has become the first to win approval for an initial public offering in Hong Kong, according to people familiar with the matter.

Aquila Acquisition Corp received the green light for a listing in the city on Thursday, the people said, asking not to be identified because the information is private. The special purpose acquisition company will seek to raise about US$300 million in the offering, one of the people said.

The funds will be used to buy a tech-enabled company in “new economy” sectors like green energy and life sciences, it said in a preliminary filing to the exchange website.

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