Tech startups in Singapore, Hong Kong sidestep local bourses for US SPACs

Tech startups in Singapore, Hong Kong sidestep local bourses for US SPACs

FILE PHOTO: Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. REUTERS/Mike Segar/File Photo

Singapore and Hong Kong startups are sidestepping their home stock exchanges to merge with special purpose acquisition companies (SPACs) in the US, as fundraising vehicles in the Asian financial hubs have yielded little on their exit plans.

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