Ace Eight Acquisition Corporation has submitted an application for listing on the Stock Exchange and plans to list in the form of a special purpose acquisition company (SPAC). It intends to focus on Asian companies operating in the biotechnology and TMT industries, with a focus on China, with the sole sponsor being Private Bank Capital.

According to the preliminary IPO documents, the sponsors of Ace Eight are ACE Promoter and Assos Omada Promoter, which hold 75.57 per cent and 24.43 per cent of the issued Class B shares, respectively. Among them, ACE Promoter shareholders include Ace Global, 01198.HK 's Zhongyi Furniture, Wang Weixiong, Liu Yeqiang's Yingyun, and SG Spring.

Ace Global, which is mainly engaged in special purpose acquisitions in the United States, initiated the listing of Ace Global Business Acquisition (ACBA.US) on the NASDAQ Stock Exchange in the United States and merged with DDC Enterprise, which operates the DayDayCook (daily cooking) brand, the company said.