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港交所:新SPAC上市機制明年1月生效 放寬公開市場、SPAC董事等規定
阿思達克 12-17 17:30
港交所(00388.HK)全資附屬聯交所今天(17日)公布引入新規則,在香港設立全新SPAC上市機制,並於2022年1月1日起生效。 港交所集團行政總裁歐冠昇稱,港交所致力提升香港市場在國際上的吸引力、競爭力和多元性。增設SPAC上市機制反映了該所努力不懈提升香港作為亞洲首要融資市場的聲譽,鞏固香港作為全球領先國際金融中心的地位。 歐冠昇稱,希望透過引進SPAC上市機制,容許經驗豐富而信譽良好的SPAC發起人物色新興和創新產業公司作為併購目標,扶植一些富有潛力的企業新星茁壯成長、邁向成功。 聯交所共收到90份來自多個不同界別對新上市機制諮詢的非重複回應意見,回應人士包括SPAC發起人、專業團體、投資管理公司、企業融資公司及個人,大多數建議均獲逾八成有表明意見的回應人士支持。 港交所上市主管陳翊庭稱,在設計SPAC機制的過程中,一直與持份者緊密溝通,務求充分了解市場的需要、運作和關注。新規則將大致按照建議所述實施,並因應一些商業因素作出修訂,確保兼顧上市公司質素與市場考慮。 在經修訂後的SPAC上市機制下,該所表示,就首次上市的公開市場規定,原先建議SPAC證券須分配給至少30名機構專業投資者,現下調為最少20名。 SPAC董事規定方面,原先建議SPAC董事會大多數成員須為提名其出任董事的SPAC發起人的代表。現改為規定SPAC的董事會須至少有兩人為第6類或第9類證監會持牌人(包括一名代表持牌SPAC發起人的董事)。 至於投票權與股份贖回權一致方面,原先建議只有投票反對SPAC併購交易的SPAC股東才可贖回SPAC股份。現時改為加強獨立PIPE(上市後私募)投資的規定,對SPAC併購交易的條款及估值作更嚴格的監管審查。 此外,在強制性獨立PIPE投資方面,現改為按議定的SPAC併購目標估值,因應不同規模的SPAC併購目標而設置不同門檻,如少於20億元則獨立PIPE投資佔議定估值的最低百分比為25%。資深投資者的重大投資方面,改為規定上文所述的獨立PIPE投資至少要有50%來自至少三名機構投資者,三者的資產管理總值須分別至少達80億港元。 最後,權證攤薄上限方面,原先建議SPAC不得發行若獲即時行使,會使股份發行總數大於有關權證發行時已發行股份數目的30%的權證。現改為整體權證上限增至50%;須更明確披露所有權證的攤薄影響;股份權證比率不設上限,發起人權證攤薄亦不設上限。
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