Asia-focused SPAC Generation Asia I raises $200m in US IPO

Photo: REUTERS/Beawiharta

Generation Asia I, a special purpose acquisition company (SPAC) led by former executives of private equity major CVC Capital Partners, has raised $200 million in its initial public offering (IPO) in the US, its recent filings showed.

The SPAC, which targets the TMT, business services, or consumer sectors in Asia, offered 20 million units at $10 each, with every unit consisting of one share of common stock and one-half of a warrant. The amount raised was in line with the company’s target.

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