The craze for special purpose acquisition companies is spreading to Asia. And just like the US, some observers worry that what is rational exuberance today could lead to excess tomorrow.
Ray Zage, founder of Tiga Investments, a Singapore-based firm and the longtime head of Farallon Capital’s Asian business, is preparing to launch what could be the first of several Spacs.
Mr Zage, among the most low-key but well-respected investors in the region, has become one of a growing number of sponsors in Asia to create a Spac. Backers of such “blank cheque” firms eventually acquire an existing company with their investors’ money.
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