Now Tec BlogNow Tec Blog

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Iraq’s Nineveh buries its dead as families seek answers after wedding fire | News

    September 28, 2023

    ChatGPT can now search internet to provide more accurate responses, says OpenAI

    September 28, 2023

    AMD CEO Is A Non-Believer In AI ‘Moat”, Says Next 10 Years To Be Very Different From The Last 10 Years

    September 28, 2023
    Facebook Twitter Instagram
    • Home
    • Business

      Taiwan unveils first locally built submarine in pushback against China

      September 28, 2023

      OpenAI and Jony Ive in talks to raise $1bn from SoftBank for AI device venture

      September 28, 2023

      U.K. startup Aligned AI claims breakthrough in CoinRun game designed to test AI safety

      September 28, 2023

      France explores windfall levy to ‘take back control’ of energy prices

      September 28, 2023

      Some Apple iPhone 15 Pro owners complain their new devices get too hot to touch while gaming or video chatting: ‘It’s burning up’

      September 28, 2023
    • Gadgets

      Vivaldi browser arrives on iPhones and iPads

      September 28, 2023

      The Raspberry Pi 5 uses the company’s own chip designs

      September 28, 2023

      Sony PlayStation boss Jim Ryan is retiring in March 2024

      September 28, 2023

      Epic Games asks Supreme Court to reconsider Apple antitrust ruling

      September 27, 2023

      Castlevania Nocturne’s Cold Open Explores Bloody Belmont Legacy

      September 27, 2023
    • Tech

      FedEx’s New Robot Loads Delivery Vans Like It’s Playing 3D Tetris

      September 27, 2023

      The Meta AI Chatbot Is Mark Zuckerberg’s Answer to ChatGPT

      September 27, 2023

      Hollywood Writers Reached an AI Deal That Will Rewrite History

      September 27, 2023

      Meta’s Quest 3 VR Headset and Ray-Ban Smart Glasses Now Serve Up a Bigger Dose of Reality

      September 27, 2023

      SoundThinking, Maker of ShotSpotter, Is Buying Parts of PredPol Creator Geolitica

      September 27, 2023
    • World

      Iraq’s Nineveh buries its dead as families seek answers after wedding fire | News

      September 28, 2023

      All you need to know about Taiwan’s new submarine in 500 words | Military News

      September 28, 2023

      Vietnam jails environmental activist for three years over tax fraud | Environment News

      September 28, 2023

      On Lampedusa, the lucky few who made it across the sea live in misery | Refugees

      September 28, 2023

      How deadly is the air you breathe? | Health

      September 28, 2023
    • AI

      AMD CEO Is A Non-Believer In AI ‘Moat”, Says Next 10 Years To Be Very Different From The Last 10 Years

      September 28, 2023

      ScreenPoint Medical Showcases Global Momentum for Transpara(R) Breast AI at EUSOBI

      September 28, 2023

      Can AI outperform radiologists in detecting lung issues? New study weighs in

      September 28, 2023

      South Korean man sentenced for creating AI-generated sexual images of children

      September 28, 2023

      Safer brain surgery using AI possible within two years

      September 28, 2023
    • Apple

      October Prime Day 2023: Everything To Know About Prime Big Deal Days

      September 25, 2023

      Meet the new goddess, same as the old goddess

      September 25, 2023

      Meet the new goddess, same as the old goddess

      September 25, 2023

      How these earbuds compare to AirPods

      September 24, 2023

      Bose QuietComfort Ultra Earbuds review: amazing spatial sound

      September 24, 2023
    • ChatGPT

      ChatGPT can now search internet to provide more accurate responses, says OpenAI

      September 28, 2023

      Meta Debuts Its ChatGPT Competitor, Meta AI

      September 28, 2023

      OpenAI ChatGPT Internet Browsing Update Info

      September 28, 2023

      Mark Zuckerberg reveals Meta AI chatbot, his answer to ChatGPT

      September 28, 2023

      ChatGPT peut maintenant chercher des données sur Internet

      September 28, 2023
    • Cyber Security

      Artificial Intelligence (AI) in Cyber Security Market Comprehensive Study Explores Huge Growth in Future | BAE Systems, Cisco, Fortinet, FireEye

      September 28, 2023

      UK Cyber Security Stocks (RTOP.L, DARK.L, SWG.L, GRC.L)

      September 28, 2023

      Global cybersecurity services provider, Inspira Enterprise achieves “Microsoft’s Solution Partner for Security” Status

      September 28, 2023

      How to Secure IoT Devices & Protect Them From Cyber Attacks

      September 28, 2023

      Bragar Eagel & Squire, P.C. Reminds Investors

      September 28, 2023
    • Computing

      Meet India’s First Space-tech Company to Bring Edge Computing to Space

      September 28, 2023

      Cloud Computing in Insurance Market Evolving Technology,

      September 28, 2023

      Cloud Computing Market 2023 Segments Analysis and Key Company Profiles – Amazon Web Services, Microsoft Corporation, Alibaba, SAP

      September 28, 2023

      Visual Computing Market Investor, Latest Trends, Industry Growth, Size, Segmentation, Future Demands, by Regional Forecast to 2031

      September 28, 2023

      Study indicates Cloud computing adoption can yield N30.2 trillion for Nigeria

      September 27, 2023
    • Science

      Women in Life Science Denmark (WiLD) launches its Female Leadership Mentoring Program to support career advancement for women in life science

      September 28, 2023

      12 weekend things to do in Colorado Springs and beyond: Cool Science Day, FamilyFest, Dead Man’s Brewfest and more | Arts & Entertainment

      September 28, 2023

      Japanese scientists find microplastics are present in clouds | Environment News

      September 28, 2023

      Why Medical Science Liaisons Should Earn Board Certification

      September 28, 2023

      Texas Open Science Summit celebrates the ‘Year of Open Science’ – The Daily Texan

      September 28, 2023
    Facebook Twitter Instagram
    Now Tec BlogNow Tec Blog
    • Home
    • Business

      Taiwan unveils first locally built submarine in pushback against China

      September 28, 2023

      OpenAI and Jony Ive in talks to raise $1bn from SoftBank for AI device venture

      September 28, 2023

      U.K. startup Aligned AI claims breakthrough in CoinRun game designed to test AI safety

      September 28, 2023

      France explores windfall levy to ‘take back control’ of energy prices

      September 28, 2023

      Some Apple iPhone 15 Pro owners complain their new devices get too hot to touch while gaming or video chatting: ‘It’s burning up’

      September 28, 2023
    • Gadgets

      Vivaldi browser arrives on iPhones and iPads

      September 28, 2023

      The Raspberry Pi 5 uses the company’s own chip designs

      September 28, 2023

      Sony PlayStation boss Jim Ryan is retiring in March 2024

      September 28, 2023

      Epic Games asks Supreme Court to reconsider Apple antitrust ruling

      September 27, 2023

      Castlevania Nocturne’s Cold Open Explores Bloody Belmont Legacy

      September 27, 2023
    • Tech

      FedEx’s New Robot Loads Delivery Vans Like It’s Playing 3D Tetris

      September 27, 2023

      The Meta AI Chatbot Is Mark Zuckerberg’s Answer to ChatGPT

      September 27, 2023

      Hollywood Writers Reached an AI Deal That Will Rewrite History

      September 27, 2023

      Meta’s Quest 3 VR Headset and Ray-Ban Smart Glasses Now Serve Up a Bigger Dose of Reality

      September 27, 2023

      SoundThinking, Maker of ShotSpotter, Is Buying Parts of PredPol Creator Geolitica

      September 27, 2023
    • World

      Iraq’s Nineveh buries its dead as families seek answers after wedding fire | News

      September 28, 2023

      All you need to know about Taiwan’s new submarine in 500 words | Military News

      September 28, 2023

      Vietnam jails environmental activist for three years over tax fraud | Environment News

      September 28, 2023

      On Lampedusa, the lucky few who made it across the sea live in misery | Refugees

      September 28, 2023

      How deadly is the air you breathe? | Health

      September 28, 2023
    • AI

      AMD CEO Is A Non-Believer In AI ‘Moat”, Says Next 10 Years To Be Very Different From The Last 10 Years

      September 28, 2023

      ScreenPoint Medical Showcases Global Momentum for Transpara(R) Breast AI at EUSOBI

      September 28, 2023

      Can AI outperform radiologists in detecting lung issues? New study weighs in

      September 28, 2023

      South Korean man sentenced for creating AI-generated sexual images of children

      September 28, 2023

      Safer brain surgery using AI possible within two years

      September 28, 2023
    • Apple

      October Prime Day 2023: Everything To Know About Prime Big Deal Days

      September 25, 2023

      Meet the new goddess, same as the old goddess

      September 25, 2023

      Meet the new goddess, same as the old goddess

      September 25, 2023

      How these earbuds compare to AirPods

      September 24, 2023

      Bose QuietComfort Ultra Earbuds review: amazing spatial sound

      September 24, 2023
    • ChatGPT

      ChatGPT can now search internet to provide more accurate responses, says OpenAI

      September 28, 2023

      Meta Debuts Its ChatGPT Competitor, Meta AI

      September 28, 2023

      OpenAI ChatGPT Internet Browsing Update Info

      September 28, 2023

      Mark Zuckerberg reveals Meta AI chatbot, his answer to ChatGPT

      September 28, 2023

      ChatGPT peut maintenant chercher des données sur Internet

      September 28, 2023
    • Cyber Security

      Artificial Intelligence (AI) in Cyber Security Market Comprehensive Study Explores Huge Growth in Future | BAE Systems, Cisco, Fortinet, FireEye

      September 28, 2023

      UK Cyber Security Stocks (RTOP.L, DARK.L, SWG.L, GRC.L)

      September 28, 2023

      Global cybersecurity services provider, Inspira Enterprise achieves “Microsoft’s Solution Partner for Security” Status

      September 28, 2023

      How to Secure IoT Devices & Protect Them From Cyber Attacks

      September 28, 2023

      Bragar Eagel & Squire, P.C. Reminds Investors

      September 28, 2023
    • Computing

      Meet India’s First Space-tech Company to Bring Edge Computing to Space

      September 28, 2023

      Cloud Computing in Insurance Market Evolving Technology,

      September 28, 2023

      Cloud Computing Market 2023 Segments Analysis and Key Company Profiles – Amazon Web Services, Microsoft Corporation, Alibaba, SAP

      September 28, 2023

      Visual Computing Market Investor, Latest Trends, Industry Growth, Size, Segmentation, Future Demands, by Regional Forecast to 2031

      September 28, 2023

      Study indicates Cloud computing adoption can yield N30.2 trillion for Nigeria

      September 27, 2023
    • Science

      Women in Life Science Denmark (WiLD) launches its Female Leadership Mentoring Program to support career advancement for women in life science

      September 28, 2023

      12 weekend things to do in Colorado Springs and beyond: Cool Science Day, FamilyFest, Dead Man’s Brewfest and more | Arts & Entertainment

      September 28, 2023

      Japanese scientists find microplastics are present in clouds | Environment News

      September 28, 2023

      Why Medical Science Liaisons Should Earn Board Certification

      September 28, 2023

      Texas Open Science Summit celebrates the ‘Year of Open Science’ – The Daily Texan

      September 28, 2023
    Now Tec BlogNow Tec Blog
    Home»Business News»Asian stock exchanges seek to join the Spac craze despite governance issues
    Business News

    Asian stock exchanges seek to join the Spac craze despite governance issues

    eduardo_alves38By eduardo_alves38March 5, 2021Updated:March 5, 2021No Comments5 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email


    The Indonesian Stock Exchange has become the third Asian stock exchange, after Hong Kong and Singapore, to explore authorization of special purpose acquisition vehicles, raising investor protection concerns as the Wall Street mania for vehicles extends to the region.

    Investors have invested nearly $ 3 billion in Spacs focused on acquiring Asian businesses this year, nearly doubling the amount committed in 2020, according to Dealogic.

    Last year, there was only one Spac deal involving a company based in an Asian country, and only five successful listings of Asian start-ups through Spacs in the past five years.

    The rush to targets from an expanded pool of liquidity for investors has raised concerns among some sponsors about inflated valuations of young companies, where management teams may not be prepared for the regulatory requirements of a U.S. listing.

    It also happened despite efforts by Asian exchanges to tighten restrictions to block backlogs and other transactions that bypass the strict independent due diligence required of a traditional IPO.

    “Everyone is pursuing the same deals,” said Frank Troise, managing director of SoHo Advisors, a specialist US investment bank. “In some cases, 12 to 15 sponsors are chasing a target.”

    advised

    Spacs raise funds by listing on the stock exchange and then using the proceeds to publicize promising private companies through reverse takeovers. Shareholders do not know which companies the vehicles will target and invest based on the records of those who sponsor the Spacs.

    Investors poured $ 100 billion into Spacs around the world last year. The trend continued until 2021, with 188 vehicles raise $ 58 billion in the United States only.

    Some of Asia’s best-known investors and wealthiest tycoons have entered the asset class, including Ken Hitchner, who ran Goldman Sachs in Asia-Pacific, and Fred Hu, a veteran of private equity in China.

    Richard Li, son of Hong Kong tycoon Li Ka-shing and one of the city’s most prominent businessmen, and Peter Thiel, the American tech investor, also backed large acquisition vehicles aimed at to seize opportunities in the region.

    Many Spacs are targeting Southeast Asian tech companies, especially after the meteoric rise of New York-listed Sea, a Singapore-based games and e-commerce company and one of the best performing actions Last year.

    GM020307_21X Acquisitions of Global Spac

    Yet most emerging Southeast Asian startups are valued at less than $ 3 billion, according to bankers and investors, the threshold required to list a company on the U.S. stock exchange.

    The level of interest is there for Southeast Asia, but “the amount of targets that are really appropriate is not,” said Ee Ling Lim, regional director of venture capital firm 500 Startups.

    Only a few of the Asia-focused Spacs launched this year had local sponsors or sponsors who have already invested in the region.

    These include Provident Acquisition, a $ 200 million Asia-focused Spac launched by Southeast Asian fund Provident Growth. The company has backed Gojek, Indonesia’s largest start-up, and Traveloka, another of the country’s four unicorns, or private companies valued at over $ 1 billion.

    “There are quite a few unicorns in Southeast Asia already and more next-generation companies are coming, some of which are ready for public procurement,” said Michael Aw, Managing Director of Provident Acquisition.

    Beyond Southeast Asia, some Spacs target larger markets, notably India, where companies are considered more mature. Last week, ReNew Power, one of India’s largest renewable energy groups, revealed its intention to go public in New York thanks to an 8 billion dollar deal with a Spac.

    The New York Stock Exchange and the Nasdaq are the preferred places for such quotes. But Asian markets are increasingly looking to take a share.

    Johnson Chui, head of Asian financial markets at Credit Suisse, warned that the implementation of a Spac framework in singapore, Hong Kong or Indonesia would require “a lot of education” for stakeholders.

    Total Asia-Focused Spacs Transaction Column Chart (Billions of Dollars) Showing Global Spacs Boom in Asia

    Hong Kong has technology lists captured in the region, but Singapore and regional exchanges, including Indonesia, wondered how to get local unicorns to register locally.

    Allowing Spacs would offer companies “another alternative for fundraising,” said Pandu Sjahrir, commissioner of the Indonesian Stock Exchange, adding that companies could then tap into local bond and bank lending markets without currency mismatches.

    Indonesia has offered tax incentives for businesses to seek national listings, with the capital gains tax falling to 0.1 percent from 22 percent for those listed locally.

    However, the limited history of Asian companies successfully going public through a Spac could weigh on the outlook for the region.

    New Frontier Group, an investment firm led by Anthony Leung, former Hong Kong financial secretary, merged the Chinese private hospital United Family Healthcare with its Spac on the New York Stock Exchange in 2019.

    advised

    But the company has always traded below its initial offering price of $ 10 per share and is expected to be privatized by a consortium led by Leung. The proposed buyout would value New Frontier Health at $ 12 a share.

    Sponsors are also increasingly monitored for their lucrative remuneration, typically receiving a 20 percent stake in the business for a nominal amount of $ 25,000.

    “Regulators in Asia spent a lot of time reducing backdoor lists because all kinds of people liked them to make quick money,” said a senior investment banker. “Where it collapses is if we have unscrupulous sponsors or companies trying to enter that market.”



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    eduardo_alves38
    • Website

    Related Posts

    Taiwan unveils first locally built submarine in pushback against China

    September 28, 2023

    OpenAI and Jony Ive in talks to raise $1bn from SoftBank for AI device venture

    September 28, 2023

    U.K. startup Aligned AI claims breakthrough in CoinRun game designed to test AI safety

    September 28, 2023
    Add A Comment

    Leave A Reply Cancel Reply

    Editors Picks

    ChatGPT can now search internet to provide more accurate responses, says OpenAI

    September 28, 2023

    Meta Debuts Its ChatGPT Competitor, Meta AI

    September 28, 2023

    OpenAI ChatGPT Internet Browsing Update Info

    September 28, 2023

    Mark Zuckerberg reveals Meta AI chatbot, his answer to ChatGPT

    September 28, 2023
    Top Reviews
    Advertisement
    Demo
    Now Tec Blog
    Facebook Twitter Instagram Pinterest Vimeo YouTube
    • Home
    • About us
    • DMCA
    • Privacy Policy
    © 2023 nowtecblog. Designed by nowtecblog.

    Type above and press Enter to search. Press Esc to cancel.