On March 16, Capital learned that the special purpose acquisition company A SPAC (HK) ACQUISITION CORP. The prospectus is disclosed on the Hong Kong Stock Exchange and is proposed to be listed on the Hong Kong main board, sponsored by A SPAC Holdings, Yucheng Kejin, De Oro and Huitong Wynn, and the exclusive sponsor is Haitong International.
It has been disclosed that the company is a special purpose acquisition company newly incorporated as an exempted company in the Cayman Islands for the purpose of acquiring or merging business with one or more special purpose acquisition targets (that is, special purpose acquisitions). Companies tend to look for potential targets in the consumer sector, which will use technology to boost its growth and development in Asia, particularly in China and Hong Kong.
As of the date of the document, A SPAC Holdings, De Oro (a wholly-owned subsidiary of YSCC) and Huitong Wynn held approximately 73.25%, 16.05% and 10.70% of the issued Class B shares of the company, respectively.
A SPAC Holdings is a company made by A SPAC (Holdings) Group Corp. Control of the special purpose entity, while A SPAC (Holdings) Group Corp. Executive director and chief executive officer Zeng Siwei and executive director and operating director she Shiying each own 50%. Their experience in finding special purpose acquisition targets enables them to have extensive contact and contact with the company's founders and business leaders.
In addition, with a thinking career in Templeton15 years and successful leadership experience in implementing global private equity investments in the consumer sector in Asia, particularly in mainland China and Hong Kong, it will give the company the advantage of finding high-quality special purpose mergers and acquisitions in target industries.
Yucheng Kejin is an investment holding company listed on the Stock Exchange (00279.HK). The Group is mainly engaged in a wide range of business in the financial services industry, including securities and futures brokerage, placing and underwriting, corporate consulting, margin financing, asset management, insurance brokerage and financial planning. It is indirectly 75% owned by Zheng Zhigang. De Oro is indirectly wholly owned by Yucheng Kejin.
Huitong Wynn Asset Management Limited is a mature family office. Huitong Wynn has more than HK $6 billion in assets under management each year from 2019 to 2021. The types of investments it manages include global asset allocation across multiple asset classes such as equity, fixed income and alternative investments. From 2011 to 2021, Huitong Wynn assets under management achieved a compound annual growth rate of 12.2%.