Hong Kong and Singapore are trying to get in on the boom in blank check company listings, while safeguarding investors from what some say is a bubble about to burst.

Authorities in the Asian financial hubs are mulling tighter frameworks than in the US for listings of special purpose acquisition companies. The US-led dealmaking boom has raised about US$100 billion ($134 billion) so far this year even though it’s now showing signs of fizzling amid increased scrutiny by regulators.

“They are a bit too late to the party so it’s good that they are cautious,” said Justin Tang, head of Asian research at United First Partners in Singapore. “The euphoria in this space means that caution is highly warranted.”

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