SINGAPORE -- Two years after Asia's two big financial hubs, Singapore and Hong Kong, allowed so-called blank-check companies as a novel way to help fast-growing tech startups and others go public on their bourses, the results have fallen short of expectations.
These fundraising vehicles, known as special-purpose acquisition companies (SPACs), raise money with a promise to invest in an operating company. They have largely failed to deliver an era of quicker listings of tech upstarts on Asian exchanges.
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