Futu News on January 18th, according to the disclosure of the Hong Kong Stock Exchange, Aquila Acquisition Corporation (referred to as "AAC"), a special purpose acquisition company, has submitted an application for listing on the main board of the Hong Kong Stock Exchange. The initiators of this SPAC are CM Bank Asset Management Limited and AAC Mgmt Holding Ltd, with Morgan Stanley and CM Bank International Jointly serving as joint sponsors.
This is also the first SPAC (Special Purpose Acquisition Company) to be listed on the Hong Kong Stock Exchange since the new SPAC listing mechanism came into effect on January 1st this year.
Related reading: Understanding the highlights of the Hong Kong SPAC listing system.
Aquila Acquisition Corporation is a newly registered exempted company in the Cayman Islands and is a special purpose acquisition company whose purpose is to merge the operations of one or more companies.
Business strategy and acquisition targets.
The company's goal is to acquire high-quality special purpose acquisition companies through selecting attractive valuation negotiation terms and to establish a foundation for improving the operational and financial performance of the acquired company after the completion of the special purpose acquisition company merger transaction, thereby creating attractive returns for shareholders.
AAC in acquiring special purpose...