Some of them expect Southeast Asian startups, especially from the tech sector, to take advantage of SGX becoming the first Asian bourse to allow SPAC listings since the investment frenzy in SPACs started in the United States last year, although the interest is peaking there.
Loke said Novo Tellus was optimistic of listing a SPAC within six months and had been studying potential targets as part of a so-called deSPAC process. Lawyers Nick Davies and Laura Luo at King & Wood Mallesons said the changes would make a larger pool of target companies eligible for deSPAC listings on SGX, and potentially enable SGX SPACs to provide much needed capital to hit a"mid-market" sweet spot for would-be SPAC targets.
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