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Former Hong Kong Central Bank Chief Executive Norman Chan Files SPAC IPO via HK Acquisition Corp with 51% Shareholding
5th March 2022 | Hong Kong
Former Hong Kong central bank (HKMA) Chief Executive Norman Chan has filed a SPAC IPO listing via HK Acquisition Corp on Hong Kong Stock Exchange, with 51% shareholding of the SPAC. The remaining 49% shares are owned by Katherine Tsang (former Chair of Standard Chartered Greater China & sister of former Hong Kong Chief Executive Donald Tsang) and Donald Tsang’s son Thomas Tsang. Hong Kong requires SPAC listing to raise at least HKD 1 billion, which is around USD 128 million. In 2019, Norman Chan stepped down as Chief Executive of Hong Kong central bank (HKMA) after 10 years on the role. In 2020, Norman Chan founded fintech firm Round Dollar Wallet Technologies, a digital payment services to facilitate cross-border payments. (SPAC ~ Special Purpose Acquisition Company, also known as “blank cheque company”, HKMA ~ Hong Kong Monetary Authority, IPO ~ Initial Public Offering)
“ Former Hong Kong Central Bank Chief Executive Norman Chan Files SPAC IPO via HK Acquisition Corp with 51% Shareholding “
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CNBC: Expect fewer SPAC listings but more high-quality ones in Hong Kong
SCMP: SPACs – Everything you need to know about the finance world’s new big thing
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