1 year ago

Podcasts Education Hong Kong Stock Exchange SPAC listing regime Julia Charlton Aquila Acquisition Corporation ZG Group SPAC promoters financial regulations IPO funds De-spac transaction

On 6 August 2024, Julia Charlton presented a webinar on Listing SPACS on the Hong Kong Stock Exchange. This webinar covers the following topics:

• Overview and Introduction
– What is a SPAC and what is a SPAC Promoter?
– The SPAC regime
– What is a De-SPAC Target?
– What is a DE-SPAC Transaction and how does this relate to a Successor Company?
– Pre-De-SPAC Transaction proposal
– DE-SPAC Transaction proposal
– Liquidation and de-listing of a SPAC if the De-SPAC Transaction timeframes are not met

• Listing Requirements of a SPAC
– The key SPAC listing requirements under Chapter 18B
– Which Listing Rules do not apply to SPACs?
– Who is a “core connected person”?
– Fundraising, escrow and trustee requirements
– Typical timeline for a SPAC listing, filing and listing documents requirements

• What is a SPAC Promoter
– Who is a SPAC Promoter?
– What are the requirements for a SPAC Promoter?

• Application of the Takeovers Code, Liquidation and De-listing
– Application of the Code prior to the De-SPAC Transaction and application to the De-SPAC Transaction
– De-listing and liquidation condition (i.e. when a SPAC must de-list and liquidate)

#HongKongStockExchange #SPACListingRegime #JuliaCharlton

Timecodes:
00:00 Julia Charlton's welcome speech
01:49 Historical Context and Global SPAC Surge
03:28 Hong Kong's SPAC Consultation Process
05:19 Key Elements of the SPAC Promoter Role
06:55 Listing Rules and Exceptions for SPACs
08:48 Financial Management and IPO Requirements
10:39 Investor Safeguards and Public Market Protection
12:28 SPAC Promoter Requirements and Disclosure
15:48 Material Changes in SPAC Promoters
17:15 Board Requirements and Governance
23:59 Promoter Shares and Warrants
32:20 De-SPAC Transactions and Listing
37:39 Shareholder Rights and Redemption Options
43:54 Financial Arrangements and Working Capital
45:17 Comparison with Singapore and Mainland China Regulations
48:23 Application of the Takeovers Code
50:00 Suspension and Delisting Procedures
52:12 Conclusion and Q&A