SC Malaysia revises SPAC framework to bolster local listings

The Securities Commission of Malaysia (SC) has revised its Special Purpose Acquisition Company (SPAC) framework to create more flexibility for successful SPAC listings and de-SPAC mergers.

According to an SC statement on Thursday, the revisions include allowing SPAC acquisition deals to be conducted through the issuance of shares rather than cash alone, permitting additional financing to be raised through private placements for SPAC mergers, and reducing the minimum SPAC IPO size from RM150 million to RM100 million.

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