TechStar Acquisition Corporation (7855.HK) has been successfully listed on the Mainboard of HKSE on 23 December 2022. AVISTA Group is honored to be engaged in providing valuation services in relation to the fair value assessment of public warrants, promoter shares and warrants with regards to this listing application.
TechStar Acquisition Corporation (“TechStar”) is a special purpose acquisition company (SPAC) that intends to focus their efforts on identifying high-growth De-SPAC Targets in the “new economy” sector in China, including but not limited to innovative technology, advanced manufacturing, healthcare, life sciences, culture and entertainment, consumer and e-commerce, green energy and climate actions industries that align with the national economic trends and industrial policies.
With regards to this listing application, CNCB Capital, Zero2IPO Group, Zero2IPO Capital, Mr. NI Zhengdong, Mr. LI Zhu and Mr. LAU Wai Kit are the Promotors.
TechStar expects to deploy its network, industry expertise and deal-sourcing capabilities of its Promoters and Directors to develop a robust pipeline of potential targets. The company intended to leverage their experiences in sourcing investment or acquisition opportunities through Promoters’ extensive network to identify high-quality De-SPAC Targets with long-term growth potential, evaluate and conduct company-specific analysis and due diligence reviews, and negotiate, structure and execute M&A and other capital markets transactions. Meanwhile, TechStar will invest, operate and advise on transactions and companies in new economy sector, expand and strengthen partnerships with industry leaders and stakeholders, provide consulting advice to companies across marketing, branding, general business operations, recruiting talents and financial matters, and empower the Successor Company with financial services and intra-industrial networks in pursuit of its business strategy.
For the De-SPAC Target, TechStar will seek for high-quality target company with competitive edges in a new economy sector in China with a differentiated value proposition and product or service barriers that align with economic trends and national industrial policies with favorable long-term growth prospects. The De-SPAC Target may possess large consumer or business market with differentiated products and services as its unique competitive edges. The management team shall be ethical, professional and responsible in pursuit of ESG values. With above De-SPAC transaction criteria, TechStar will provide strong and visionary management team that can create significant value for the De-SPAC target and to be benefited from being a public company. Thereby, generating attractive returns for TechStar’s Shareholders.
Congratulations again to TechStar Acquisition Corporation (7855.HK) on its successful listing. The issue price of the shares is HKD 10 per share, and the amount of funds raised is HKD 1.0 billion.
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Date: 23 Dec 2022 | Tags: Business Valuation, Initial Public Offering (IPO)
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