Geely-Powered Mobility-Tech Firm Ecarx Nears Finish Line for U.S. Listing

The London-based smart car technology company with strong connections to China is the latest piece in Geely’s global auto ambitions Key Takeaways: Geely-backed Ecarx says it expects to complete its U.S. SPAC listing by the end of this year, valuing the listed company at about $3.8 billion Founded just five years ago, the smart car technology maker earned $415 million in revenue last year, mostly from Geely and its related companies  By Jose Qian Start your engines: A new “made in China” option for investors looking to tap a developing…

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Lanvin Nears Completion of U.S. SPAC Listing. Now the Work Begins

The luxury arm of debt-challenged financial conglomerate Fosun looks set to complete its New York listing by year-end, with an aim of breaking even by 2024 Key Takeaways: Lanvin Group’s plan for a SPAC listing has moved a step closer to completion with the setting of a Dec. 9 vote on the deal by the SPAC’s shareholders The company recorded impressive overall revenue growth in the first half of this year, but results were less stellar for the important Greater China market By Trevor Mo As the debt-strapped Fosun International…

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Asia Innovations SPAC Listing: Based in Singapore, But Made in China

Social media company’s executive team, including co-founder and CEO Andy Tian, all come from China tech and media backgrounds Key Takeaways: Developing markets social media company Asia Innovations is planning a U.S. SPAC listing that could provide it with up to $350 million in new funds Company could represent a new generation of founding teams with Chinese roots setting up internet companies in Singapore to avoid stricter Chinese regulations By Doug Young Today we detour from our usual China fare to examine a trend that could quickly gain traction due…

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Hony Capital Switches SPAC IPO Focus from U.S. to Hong Kong

Everest Acquisition Corporation, a SPAC launched by leading private equity firm Hony Capital and the state-owned Agricultural Bank of China, has filed for an IPO on the Hong Kong Stock Exchange Key Takeaways: Everest Acquisition Corporation, a SPAC co-funded by Hony Capital and ABCI Capital, applied to list in Hong Kong with the aim of acquiring companies in the healthcare, consumer goods and green sectors In April this year Hony Capital scrapped a bid to list another SPAC, Hony Capital Acquisition, in the U.S. and has turned instead to the…

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Lifted by Southeast Asia Growth, Insurer FWD Seeks IPO Safe Landing

Hong Kong tycoon Richard Li’s Asia-focused insurance company, FWD Group, has filed again for an IPO that reportedly aims to raise $1 billion Key Takeaways: FWD has switched its focus from opportunities in China to the growth potential in Southeast Asia as its main IPO selling point for investors The company’s listing was delayed in May this year due to bumpy market conditions, and it is still beset by uncertainty, with sluggish Hong Kong stocks and a likely swing from profit to loss this year By Ken Lo FWD Group…

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SolarMax Banks on Sunny Name to Draw Investors to Its IPO

The builder of solar farms in China and rooftop solar systems in the U.S. is seeking to raise $30 million in a New York listing Key Takeaways: Solar power systems developer SolarMax is aiming to raise $30 million in a New York listing, but investors could balk at the company’s lack of diversity The IPO marks the latest signal that Chinese listings could soon gain momentum in New York after a yearlong near-halt due to regulatory concerns in the U.S. and China By Doug Young   Its name may sound…

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FAST NEWS: SPAC with Alibaba Former CEO Ties Oversubscribed

The latest: Vision Deal HK Acquisition Corp. (7827.HK), the second listed special purpose acquisition company (SPAC) on the Hong Kong stock market, announced Thursday its offering of 100 million shares was slightly oversubscribed and will be listed on Friday. Looking up: The investors participating in this subscription include 94 professional investors, of which 24 are institutional professional investors, who will hold 75.71% of the shares in the offer, respectively. Take Note: The shares of this company will be offered only to professional and institutional investors, and the admission fee of…

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China Offers Up Luxury Investment With Lanvin Backdoor Listing Plan

Local private equity giant Fosun says it will use a SPAC to list Lanvin, whose brands also include St. John Knits, Sergio Rossi and Wolford Key Takeaways: Chinese private equity giant Fosun will list its Lanvin luxury goods unit in the U.S. using a SPAC backed by Primavera Capital, another major Chinese private equity company Lanvin is currently losing money, but Fosun believes the company can become profitable by 2024 if it meets its aggressive growth projections By Doug Young Watch out, world. China is entering the global race for…

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FAST NEWS: Hong Kong’s First SPAC Aquila Sags in Anemic Trading Debut

The latest: Aquila Acquisition Corp. (7836.HK), the first company to list in Hong Kong using the special purpose acquisition company (SPAC) mechanism launched in January, made its trading debut on Friday. The listing was moderately oversubscribed by 100 million shares in an offer that attracted 99 professional investors, including 40 institutional investors. Looking up: The city’s first SPAC listing comes less than three months after Hong Kong introduced the mechanism on Jan. 1. That’s much quicker than the first similar listing in Singapore, the region’s main competitor, which took over…

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FAST NEWS: Hong Kong’s First SPAC to Debut on Friday

The latest: Aquila Acquisition Corp. (7836.HK), a special purpose acquisition company (SPAC) co-founded by CMB International and AAC Management Holding Ltd., announced it expects to disclose the results of its IPO on Thursday and make its trading debut on Friday, March 18, at an issue price of HK$10 per share. Shares will be traded in board lots of 105,000 shares. Looking up: Aquila Acquisition was approved to list on the Hong Kong Stock Exchange’s main board on March 9. It initially expected to make its trading debut on March 22, meaning…

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