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The Hong Kong stock market has long been a hot spot for global initial public offerings (IPO), but the U.S. IPO market stole the limelight by Special Purpose Acquisition Company (SPAC) last year. SPAC IPOs had raised more than US$ 80 billion in gross proceeds in 2020. How does SPAC work? What investment potential and risks does it have?
The full version of the commentary is in Chinese only.