US SPACs shun China targets as tighter listing rules weigh on investor interest

US SPACs shun China targets as tighter listing rules weigh on investor interest

A street sign for Wall Street is seen in the financial district in New York, U.S., November 8, 2021. REUTERS/Brendan McDermid

Sponsors behind blank cheque companies on Wall Street continue to steer away from acquiring targets in the Chinese market amid heightened oversight on foreign listings by Chinese issuers.

Denali Capital Acquisition and Valuence Merger I are the latest US SPACs to avoid de-SPAC targets in Greater China.

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