News Sharing
For sharing news, please enter the email address of you and the receiver, then press SEND button.*Mandatory Fields
Receiver*
Enter email addresses, separated by semicolon (;). E.g. a@a.com;b@b.com
Your email address*
 Content Sharing
HK ACQ-Z De-SPAC Passes Listing Hearing, Expected to be Controlled by BABA-W After Transaction
According to the Hong Kong Stock Exchange, the special purpose acquisition company (SPAC), HK ACQ-Z (07841.HK), has passed the listing hearing for its De-SPAC transaction. HK ACQ-Z...
Reset
Send
The window will close in 5 seconds
HK ACQ-Z De-SPAC Passes Listing Hearing, Expected to be Controlled by BABA-W After Transaction
Close
Recommend
31
Positive
45
Negative
21
 
SHORT SELL
 
STOCK INFO

According to the Hong Kong Stock Exchange, the special purpose acquisition company (SPAC), HK ACQ-Z (07841.HK)  0.000 (0.000%)   , has passed the listing hearing for its De-SPAC transaction. HK ACQ-Z's business is expected to be merged with that of the target company, Synagistics Pte. Ltd. The joint sponsors for this transaction are Haitong International and CMB International.

Synagistics is a Southeast Asian e-commerce solutions platform, currently 47.22% owned by Alibaba Singapore, a subsidiary of BABA-W (09988.HK)  +2.900 (+2.818%)    Short selling $1.82B; Ratio 16.340%   . Assuming full redemption of SPAC shares, and no exercise of the promoter earn-out right/ the target company founder earn-out right/ the subscription rights attached to HK ACQ-Z SPAC warrants and promoter warrants, and with the permitted equity financing subscription amount totaling $15 million, HK ACQ-Z (also known as the successor company) is expected to be 34.26% owned by Alibaba Singapore upon completion of the transaction, making BABA-W its controlling shareholder.

Related NewsMacquarie: ST Policy News May Not Meet Overly High Expectations; Focus Now on USD Rebound
In addition, after completing the De-SPAC transaction, HK ACQ-Z is expected to be renamed Synagistics Limited.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-10-10 16:25.)

AAStocks Financial News
Copyright(C) AASTOCKS.com Limited 2000. All rights reserved.
Disclaimer: AASTOCKS.com Ltd, HKEx Information Services Limited, its holding companies and/or any subsidiaries of such holding companies endeavour to ensure the accuracy and reliability of the Information provided but do not guarantee its accuracy or reliability and accept no liability (whether in tort or contract or otherwise) for any loss or damage arising from any inaccuracies or omissions.