Sunday, June 16, 2024
HomeNewsHong KongMelco's Lawrence Ho files for SPAC listing aimed at entertainment, health care industry

Melco’s Lawrence Ho files for SPAC listing aimed at entertainment, health care industry

A special purpose acquisition company (SPAC) backed by Melco’s Lawrence Ho has applied to raise capital in Hong Kong, becoming the 11th SPAC to do so on the Hong Kong Stock Exchange to date.  

SPACs, also known as “blank check companies” are companies that have no commercial operations at its inception but are formed to raise money through an IPO with the purpose of acquiring another company. These companies have two years to complete the acquisition or must return their funds to investors.

According to its listing application, Ho’s newest SPAC – Black Spade Asia Acquisition is reportedly looking to acquire a company that “is related to, or is in the entertainment, lifestyle and health care industry” in Greater China.

Felix Ng
Felix Nghttps://agbrief.com/about-asia-gaming-brief/
Felix is the Asia Editor and Events Director of the Asia Gaming Brief. He has over a decade of experience developing conferences for industries including gaming, telecoms, investment, biotechnology, and mining. Felix covers gaming technology and innovation and is passionate about developing engaging and eye-catching content for the industry.

MORE ARTICLES

FOLLOW US

daily newsletter