Singapore’s stock exchange is proposing a stricter rulebook for listing blank-check companies than the US, as it prepares to compete in one of the hottest capital market trends in the past year. Singapore Exchange Ltd’s regulatory arm is proposing a minimum S$300mn ($225mn) market capitalisation for listing special purpose acquisition companies, it said in a market consultation paper released yesterday. The US has no such floor. The Southeast Asian trading venue is also proposing stricter criteria for warrants and share redemption. SGX joins a slew of exchanges that are looking to host these structures, where essentially a shell company lists with the aim to acquire an operating business. A
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