Hong Kong property tycoon Li Ka-shing plans US SPAC

Li Ka-shing, Hong Kong’s richest property tycoon, is planning to raise funds for dealmaking by listing a special purpose acquisition company in the U.S., people with knowledge of the matter said.

A company backed by Li’s family is working with advisers on the potential SPAC initial public offering, according to the people, who asked not to be identified because the information is private. They are considering seeking around $400 million, though the exact terms haven’t been finalized, the people said.

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