Congratulations to Hong Kong’s First-ever SPAC IPO – Aquila Acquisition Corporation (7836.HK) on its Successful Listing

Aquila Acquisition Corporation has been successfully listed on the Mainboard of HKSE on 18 March 2022. AVISTA Group is honored to be engaged in providing valuation services with regards to the first-ever special purpose acquisition company (SPAC) listing application on the Hong Kong Stock Exchange (HKSE).

Co-founded by CMB International and AAC Management Holding Ltd., Aquila is the first SPAC in Hong Kong to make an IPO under the new SPAC listing mechanism, which came into effect on 1 January this year. Aquila has been formed for the purpose of effecting a business combination (“De-SPAC Transaction”) with one or more businesses (“De-SPAC Targets”).

In identifying its De-SPAC Targets, Aquila intends to concentrate efforts on technology-enabled companies in new economy sectors, such as green energy, life sciences and advanced technology and manufacturing in Asia, with a focus on China, yet they may pursue a De-SPAC Target in any sector.

Date: 18 Mar 2022 | Tags: Business Valuation