The Latest SPAC News and Rumors: September 10, 2021

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: Internet entrepreneur Patrick Grove mulls Singapore SPAC, Hong Kong plans to curb access for retail investors, and SEC advisory group endorses tougher SPAC disclosure rules

Entrepreneur Patrick Grove Considering a Singapore SPAC

Internet entrepreneur Patrick Grove is weighing listing a SPAC in Singapore, joining the race to be the first to sponsor blank-check vehicles under the new rules unveiled by the city-state last week.

The chairman of Catcha Group, an internet-focused investment company in Southeast Asia, has had discussions with Singapore Exchange Ltd. about a potential listing. The Australian businessman already took his blank-check firm named Catcha Investment Corp. (NYSE:CHAA) public in the U.S. earlier this year, raising $300 million.

Hong Kong Plans to Limit Retail Investor Access to SPACs

Hong Kong plans to curb access for retail investors to buy and trade SPACs as regulators in the city prepare to roll out a framework this month.

The city will propose to only allow what it deems as professional investors with assets of more than HK$8 million ($1 million) to participate in both the primary and secondary market of SPACs.

Tougher SPAC Disclosure Rules Endorsed by SEC Advisory Group

A group of executives and academics that advises the U.S. Securities and Exchange Commission wants better SPAC disclosures.

The recommendations from the SEC’s investor advisory committee will likely help agency staff as they craft new regulations for SPACs, which have drawn bipartisan criticism from lawmakers after attracting a record $80 billion last year.