Singapore will soon be allowing blank-check companies to list on its stock exchange as last week, the city-state released new rules for special purposes acquisition companies (SPAC) to be listed on its main board, concluding its consultation process which started in March this year.

The most significant change from its draft is the halving of the minimum market capitalisation requirement of a SPAC to approximately US$111 million. According to the Singapore Exchange, the threshold balances out the attraction of high-quality sponsors, which are shell companies that are tasked with finding a merger target, and ensuring those targets are sizeable. 

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