Morrison & Foerster Partner Vivian Yiu is quoted in an article “Hong Kong to Enter SPAC Race, but Rules Are Deemed Too Prohibitive,” published by Asian Legal Business on January 10, 2021.
“The proposed framework is less competitive than that of other jurisdictions. The Stock Exchange is understandably putting in place safeguards to prevent abuse and market manipulation, there is perhaps room for relaxation in some areas as retail investors are excluded from investing until the de-SPAC completes,” Vivian commented on the Hong Kong SPAC regime.
“We think there are some good de-SPAC targets which are China-based companies. From a regulatory perspective, there are some regulatory advantages to a Hong Kong listing. So, China-based targets which are ready for a de-SPAC, a Hong Kong-listed SPAC may be more attractive than a US-listed SPAC,” Vivian added.
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