Goldman Sachs is aiming to snare a bigger share of the booming number of Special Purpose Acquisition Company (SPAC) deals in Asia by having senior bankers specifically target these blank cheque transactions across the region.
The initiative was put in place towards the end of last year – but has not been reported – when SPACs started taking off in Asia following rapid growth in these deals elsewhere, including in the United States.
A SPAC typically raises money to acquire a private company with the purpose of taking it public, allowing such targets to move more quickly to the public markets than via a traditional initial public offering.
Reporting by Scott Murdoch and Kane Wu in Hong Kong; Editing by Jane Merriman and Emelia Sithole-Matarise
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.