Hong Kong version of SPAC head shot! Aquila has submitted listing application to focus on Asia's "new economy"

Hong Kong officially introduced the SPCA (special purpose acquisition company) listing mechanism on January 1 this year, and finally the first shot appeared!

According to information from the Hong Kong Stock Exchange, Aquila Acquisition Corporation, a special-purpose acquisition company jointly sponsored by CMB International Asset Management and AAC Mgnt Holding Ltd, submitted an application for listing on the main board to the Stock Exchange today (17th), becoming the first application in Hong Kong.

Aquila plans to focus on Asia, particularly China's "new economy" industries, such as green energy, life sciences and technology-enabled companies in advanced technology and manufacturing, according to preliminary prospectus documents.

Pursuant to the listing rules, companies are required to announce the SPV M&A within 24 months after the listing date, and must complete the SPV M&A within 36 months after the listing date.

The preliminary prospectus stated that the strong industry reputation and expertise of China Merchants Bank and CMB International in acquiring transactions, due diligence, execution and providing value-added services will help the group to form a significantly differentiated M&A target of potential special purpose acquisition companies Reserve for evaluation and selection.

The joint sponsors are CMB International and Morgan Stanley.