Market Existential Episode 29 | November 2024

Episode Description:

On 6 August 2024, Julia Charlton presented a webinar on Listing SPACS on the Hong Kong Stock Exchange. This webinar covers the following topics:

Overview and Introduction

• What is a SPAC and what is a SPAC Promoter?
• The SPAC regime
• What is a De-SPAC Target?
• What is a DE-SPAC Transaction and how does this relate to a Successor Company?
• Pre-De-SPAC Transaction proposal
• DE-SPAC Transaction proposal
• Liquidation and de-listing of a SPAC if the De-SPAC Transaction timeframes are not met

Listing Requirements of a SPAC

• The key SPAC listing requirements under Chapter 18B
• Which Listing Rules do not apply to SPACs?
• Who is a “core connected person”?
• Fundraising, escrow and trustee requirements
• Typical timeline for a SPAC listing, filing and listing documents requirements

What is a SPAC Promoter

• Who is a SPAC Promoter?
• What are the requirements for a SPAC Promoter?

Application of the Takeovers Code, Liquidation and De-listing

• Application of the Code prior to the De-SPAC Transaction and application to the De-SPAC Transaction
• De-listing and liquidation condition (i.e. when a SPAC must de-list and liquidate)