聯交所就SPAC上市機制刊發諮詢 SPAC證券僅限專業投資者認購及買賣
聯交所刊發諮詢文件,就建議在香港推行特殊目的收購公司(SPAC)上市機制徵詢市場意見。諮詢期由今天起計為期45日,至2021年10月31日為止。
根據諮詢文件,SPAC證券將僅限專業投資者認購和買賣,惟進行SPAC併購交易後買賣繼承公司的股份將不受此限。SPAC發起人須符合適合性及資格規定,而SPAC必須有至少一名SPAC發起人為證監會持牌公司並持有至少10%發起人股份。發起人股份建議以首次公開發售日期的所有已發行股份總數的30%為限;另外亦建議行使權證所造成的攤薄比率同樣限於30%。SPAC預期從首次公開發售籌集的資金須至少達10億元。
在SPAC併購交易方面,繼承公司須符合所有新上市規定,包括最低市值規定及財務資格測試。獨立第三方投資為強制性規定,獨立第三方投資須佔繼承公司預期市值的至少15%至25%,以驗證繼承公司的估值。SPAC併購交易須經SPAC股東於股東大會上批准作實,但不包括SPAC發起人及其他擁有重大權益的股東。另外,在進行SPAC併購交易、SPAC發起人有變動、以及物色合適的SPAC併購目標的期限延長前,SPAC必須先給予股東贖回股份的選項。
在清盤及除牌方面,若如果SPAC未能在24個月內公布SPAC併購交易,或未能在36個月內完成SPAC併購交易,SPAC必須清盤並將籌得的所有款項,和另加應計利息退還給股東。隨後聯交所會將SPAC除牌。
港交所上市主管陳翊庭表示,港交所作為亞洲領先的全球新股市場,一直致力提升上市機制,力求在適當的投資者保障、市場質素與市場吸引力之間取得良好的平衡,深信香港引入SPAC上市制度可為市場提供傳統首次公開招股以外的另一渠道,吸引更多來自大中華區、東南亞以至世界各地的公司來港上市。港交所致力維持上市公司的質素及穩定的交投量,保障香港市場的聲譽。因此在今次引入SPAC上市機制的建議中增設保障措施,確保SPAC發起人具備豐富的經驗及良好的聲譽,並且以優質SPAC併購為目標。
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