Investment banks find Hong Kong's proposed SPAC rules too rigid

Investment banks find Hong Kong's proposed SPAC rules too rigid

Logos of Hong Kong Exchanges and Clearing Ltd (HKEx) are seen on a window door inside the trading hall during afternoon trading at the Hong Kong Stock Exchange April 10, 2014. REUTERS/Bobby Yip

Investment banks and corporate advisors are pushing back against Hong Kong‘s proposed rules for blank check listings, arguing they are too onerous and will not make the city competitive, three sources with knowledge of the matter said.

Interested parties have until Oct. 31 to lodge submissions with the Hong Kong stock exchange over its proposed framework for Special Purpose Acquisition Companies (SPACs).

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