The 10th Hong Kong SPAC: a SPAC attended by Zheng Zhigang and others, submitted the prospectus.

瑞恩資本RyanbenCapital · Mar 16, 2022 16:24

2022年3月15日，香港第10家SPAC公司A SPAC (HK) ACQUISITION CORP. (以下简称"A SPAC") 向港交所递交招股书，拟在香港主板挂牌上市。

概要

A SPAC，为特殊目的收购公司(SPAC)，旨在收购一家或多家公司进行业务合并。公司倾向在消费行业(其将利用科技促进其在亚洲的增长和发展，特别是在中国内地和香港)物色潜在目标。

A SPAC承诺分别于上市后18个月及30个月内落实特殊目的收购公司并购交易的公告及完成。

发起人

A SPAC 的发起人为A SPAC (Asia) Holdings Corp.、裕承科金(00279.HK)间接全资拥有的De Oro Strategics Limited、汇通永利资产管理有限公司，分别持有公司已发行B类股份约73.25%、16.05%、10.70%。

A SPAC (Asia) Holdings Corp. 由执行董事兼行政总裁曾思维先生及执行董事兼营运总监佘诗颖女士各拥有50%的A SPAC (Holdings) Group Corp.控制，持股68.53%。A SPAC (Asia) Holdings Corp.的其他股东包括香港顶尖动力集团有限公司、M1 SPAC Holdings Limited，分别持股22.48%、8.99%。

裕承科金，其由郑志刚博士(太平绅士)间接持有75%权益，主要从事金融服务行业内广泛领域(包括证券及期货经纪、配售及包销、企业咨询、孖展融资、资产管理、保险经纪及财务规划)业务，获香港证监会发牌从事第1类(证券交易)、第2类(期货合约交易)、第4类(就证券提供意见)、第6类(就机构融资提供意见)、第9类(提供资产管理)受规管活动。

汇通永利，获香港证监会发牌在香港进行第4类、第9类受规管活动。于2019年至2021年，汇通永利每年拥有管理账户下超过60亿港元的管理资产，其管理的投资类型包括横跨股权、固定收益及另类投资等多个资产类别的全球资产配置。曾思维先生为汇通永利的负责人员，目前持有证监会发出的第9类牌照。

SPAC并购交易标准

A SPAC 将主要寻求收购一项或以上的增长业务，且已识别以下认为对评估潜在的特殊目的收购公司并购目标属重要的一般标准及指引：

以可持续的差异化竞争让产品或服务满足庞大的消费或业务市场；
经常性收入来源潜力；
明显竞争优势、公司的团队的独特优势所识别的未充分开发增长机会；
可为目标公司创造重大价值的强大管理团队；
未确认的价值或公司认为市场错误评估的其他特点；
有利的长期增长前景；
差异化的价值主张以及产品或服务障碍；
追求环境、社会及管治价值的道德、专业及负责任的管理层；及
受益于作为上市公司。

公司一般会运用该等标准及指引评估收购机会，但公司最终确立的并购目标未必符合该等已识别的标准或指引。

管理团队

董事会(7人)

执行董事

曾思维先生，45岁，执行董事兼行政总裁。曾先生在资本市场拥有逾16年经验，于私募股权及上市后私募投资方面往绩记录超着，侧重于中国及其他新兴市场。曾先生为Model Performance Acquisition Corp. 的行政总裁兼主席及A SPAC I Acquisition Corp. 的行政总裁、财务总监兼主席。曾先生为Templeton Asset Management Limited私募股权（北亚）的前联席主管及Templeton Private Equity Partners的前合伙人，在职期间管理30亿美元私募股权基金。曾先生于2017年3月取得美国芝加哥大学布斯商学院的工商管理硕士学位，于2006年7月取得中国清华大学的法学学士学位，于1998年12月取得中国香港的香港中文大学的工程学士学位。

佘诗颖女士，32岁，执行董事兼营运总监。佘女士为Lion Pr idePropert ies Inc.董事及Jumpstart Media行政总裁、Model Performance Acquisition Corp.的董事、总裁兼财务总监。佘女士曾瑞生国际律师事务所香港办公室的律师，主要负责债券发售、首次公开发售及并购等资本市场交易工作。佘女士于2015年5月取得美国哈佛大学法学院法学博士学位，亦分别于2015年11月、2016年11月及2017年8月获得新泽西州律师、纽约州律师及法律顾问，以及哥伦比亚特区律师协会会员资格。

郭兆聪先生，31岁，执行董事兼投资总监。郭先生现为Astera CapitalPartners的创始合伙人兼行政总裁，自2013年起开始职业生涯，曾任职于摩根士丹利、Euro Asset Management Limited、太盟投资集团(PAG)。郭先生于2013年1月取得美国康奈尔大学酒店管理理学士学位。

杨雪芬女士，48岁，执行董事。杨女士为裕承科金集团的企业融资部主管及裕承科金执行董事。目前持有香港证监会颁发的第1类、第6类牌照。杨女士曾任巴克莱亚洲有限公司董事总经理、渣打银行（香港）有限公司亚洲股票挂钩解决方案董事总经理兼环球主管及花旗环球金融亚洲有限公司亚太股票资本市场总监。杨女士于1996年12月取得美国南加州大学工商管理学士学位。

独立非执行董事

龚永德先生，59岁。龚先生为毕马威中国前副主席及毕马威高级顾问，拥有超过30年专业会计经验，目前为建滔积层板(01888.HK)、重庆啤酒(600132.SH)及欧力士(亚洲)有限公司的独立非执行董事。龚先生于1984年7月取得英国利物浦大学的文学士学位，主修会计。分别自1987年11月及1999年5月起成为英格兰和韦尔斯特许会计师公会会员及香港会计师公会资深会员，亦是香港税务学会的资深会员，

陈镇洪先生，58岁。陈先生现任Samena Capital的高级董事总经理兼亚洲区主管，亦为香港创业及私募投资协会会长及执行董事，以及联交所主板及GEM上市复核委员会成员。曾任职于汇丰、苏伊士亚洲投资有限公司、JAFCO Investment (Asia Pacific) Ltd.、Spring Capital Asia, Limited等。陈先生于1986年11月获得中国香港的香港大学文学士学位、1988年7月获得英国曼彻斯特商学院(当时称为曼彻斯特维多利亚大学)工商管理硕士学位，亦于1993年9月获准成为美国特许财务分析师学会之特许财务分析师。

罗卓坚先生，59岁。罗先生为中意投资经理有限公司的董事总经理及负责人员，于2021年1月注册证监会第9类牌照。罗先生现任中国光大控股(00165.HK)、新百利融资(08439.HK)、中国银河证券(06881.HK)、石药集团(01093.HK)及康诺亚生物(02162.HK)的独立非执行董事。罗先生曾任职于晨兴集团、美国德太增长基金、国浩集团、香港铁路等。罗先生于1984年7月取得英国伯明翰大学的理学学士学位，主修土木工程、1996年7月取得英国赫尔大学工商管理硕士学位。罗先生为香港会计师公会(HKICPA)理事会成员、香港商界会计师协会(HKBAA)理事会成员，亦为中国财政部委任的会计咨询专家。

高级管理层(4人)
曾思维先生，行政总裁;佘诗颖女士，营运总监；郭兆聪先生，投资总监；李卓富先生，财务总监。李先生拥有超过25年国际金融及投资经验。曾任职于美国安永、瑞士信贷、新鸿基等。现任Korah (H.K.)Limited董事总经理、Korah Asia Limited共同创立人及董事总经理。李先生于1994年6月取得加拿大多伦多大学商业学士学位，并于2002年6月取得美国芝加哥大学工商管理硕士学位。

股东架构

招股书显示，A SPAC在上市后的股东架构中，A SPAC (Asia) Holdings Corp.、De Oro Strategics Limited、汇通永利资产管理有限公司将持有B类股份。

财务数据

招股书显示，A SPAC于2022年1月27日至2022年2月28日产生相关开支45.0265万港元。

中介机构

A SPAC是次SPAC上市的主要参与各方有：

A SPAC Holdings、De Oro、汇通永利为其发起人：

海通国际为其独家保荐人：

毕马威为其审计师；

苏利文·克伦威尔为其公司香港及美国法律顾问：

蔡余李(科律香港联营)为其券商香港及美国法律顾问。

March 15, 2022, the 10th SPAC Company in Hong KongA SPAC (HK) ACQUISITION CORP.(hereinafter referred to as "A SPAC") submit a prospectus to the Hong Kong Stock Exchange for listing on the Hong Kong main board.

Summary

A SPACThe acquisition of a company for a special purpose (SPAC) is aimed at acquiring one or more companies for business merger. Companies tend to beConsumer industry(it will use technology to promote its growth and development in Asia, especially in mainland China and Hong Kong.) identify potential targets.

A SPACIt is promised to implement the announcement and completion of the merger and acquisition of the special purpose company within 18 months and 30 months after listing, respectively.

Initiator

A SPACThe originator ofA SPAC (Asia) Holdings Corp.、Yu Cheng Ke Jin(00279.HK) indirectly wholly owned De Oro Strategics Limited,Huitong Wynn asset management co., Ltd.Holding about 73.25%, 16.05% and 10.70% of the issued Class B shares of the company, respectively.

A SPAC (Asia) Holdings Corp.Mr. Zeng Sii, Executive Director and Chief Executive Officer, and Ms. she Shiying, Executive Director and Chief operating Officer, each own 50% A SPAC (Holdings) Group Corp. Control, 68.53% shareholding.A SPAC (Asia) Holdings Corp.Other shareholders include Hong Kong Top Power Group Co., Ltd., and M1 SPAC Holdings Limited, which own 22.48% and 8.99% respectively.

Yu Cheng Ke JinIt is indirectly 75% owned by Dr. Zheng Zhigang (JP). Mainly engaged in a wide range of financial services industry (including securities and futures brokerage, placing and underwriting, corporate consulting, margin financing, asset management, insurance brokerage and financial planning) business Licensed by the SFC to engage in regulated activities of category 1 (securities trading), type 2 (futures contract trading), category 4 (advising on securities), category 6 (advising on institutional financing) and category 9 (provision of asset management).

Huitong WynnLicensed by the Hong Kong Securities and Futures Commission to carry out category 4 and 9 regulated activities in Hong Kong. From 2019 to 2021, Huitong Wynn has more than HK $6 billion in assets under management each year, including global asset allocation across equity, fixed income and alternative investment classes. Mr Tsang is the responsible officer of Huitong Wynn and currently holds a category 9 licence issued by the SFC.

SPAC M & A transaction standard

A SPACWill mainly seek to acquire one or more growth businesses and have identified the following general criteria and guidelines that are considered important for the assessment of potential special purpose mergers and acquisitions:

Make products or services meet the huge consumer or business market with sustainable differentiation competition
Potential source of recurrent income
Underdeveloped growth opportunities identified by a clear competitive advantage and the unique advantage of the company's team
A strong management team that can create significant value for the target company
Unrecognized value or other characteristics that the company considers to be misassessed by the market
Favorable long-term growth prospects
Differentiated value propositions and product or service barriers
Ethical, professional and responsible management in pursuit of environmental, social and governance values; and
Benefit from being a listed company.

Companies generally use these standards and guidelines to assess acquisition opportunities, but the final M & A targets may not meet the identified standards or guidelines.

Management team

Board of Directors (7 members)

Executive director

Zeng thinkingSir, 45, executive director and chief executive officer. Mr. Zeng has more than 16 years of experience in capital markets and has a strong track record in private equity and post-IPO private equity, focusing on China and other emerging markets. Mr. Zeng is Model Performance Acquisition Corp. Chief Executive Officer and Chairman and A SPAC I Acquisition Corp. Chief Executive Officer, Chief Financial Officer and Chairman. Mr. Zeng is a former co-head of Templeton Asset Management Limited Private Equity (North Asia) and a former partner of Templeton Private Equity Partners, managing $3 billion of private equity funds during his tenure. Mr. Tsang received a Master of Business Administration from Booth School of Business, University of Chicago, USA in March 2017, a Bachelor of laws degree from Tsinghua University, China in July 2006, and a Bachelor of Engineering degree from the Chinese University of Hong Kong, Hong Kong, China in December 1998.

She ShiyingMa'am, 32, executive director and director of operations. Ms. Li is Lion Pr idePropert ies Inc. Director and Chief Executive Officer of Jumpstart Media, Model Performance Acquisition Corp. Director, President and Chief Financial Officer. Ms. Zeng Ruisheng, a lawyer in the Hong Kong office of the international law firm, is mainly responsible for capital market transactions such as bond sales, initial public offerings and mergers and acquisitions. She received her J.D. Degree from Harvard Law School in May 2015, as well as a New Jersey lawyer, New York State lawyer and legal adviser in November 2015, November 2016 and August 2017. and membership of the Bar Association of the District of Columbia.

Guo ZhaocongSir, 31, executive director and investment director. Mr. Guo is now the founding partner and CEO of Astera CapitalPartners. Since 2013, he has worked in Morgan Stanley, Euro Asset Management Limited and PAG. Mr. Guo received a Bachelor of Science degree in Hotel Management from Cornell University in January 2013.

Yang XuefenMa'am, 48, executive director. Ms. Yang is the head of the Corporate Finance Department and the Executive Director of Yucheng Kejin Group. At present, he holds Category 1 and Category 6 licenses issued by the Hong Kong Securities and Futures Commission. Ms. Yang has served as Managing Director of Barclays Asia Limited, Managing Director and Global head of Asian Equity linked Solutions of Standard Chartered Bank (Hong Kong) Limited, and Director of Asia Pacific Equity Capital Markets of Citigroup Global Financial Asia Limited. Ms. Yang received her Bachelor's degree in Business Administration from the University of Southern California in December 1996.

Independent non-executive director

Gong YongdeSir, 59 years old. Mr. Gong is a former vice chairman of KPMG China and a senior consultant to KPMG. He has more than 30 years of professional accounting experience and is currently an independent non-executive director of Jiantao Laminates (01888.HK), Chongqing Beer (600132.SH) and Orix (Asia) Co., Ltd. Mr. Gong received a Bachelor of Arts degree from the University of Liverpool in July 1984, majoring in accounting. He has been a member of the Institute of Chartered Accountants in England and Wells and a fellow member of the Hong Kong Institute of Accountants since November 1987 and May 1999 respectively. He is also a fellow member of the Taxation Institute of Hong Kong.

Chen ZhenhongSir, 58 years old. Mr. Chan is currently the Senior Managing Director and head of Asia of Samena Capital, the President and Executive Director of the Hong Kong Venture and Private Investment Association, and a member of the main Board of the Stock Exchange and the listing Review Committee of GEM. He has worked for HSBC, Suez Asia Investment Co., Ltd., JAFCO Investment (Asia Pacific) Ltd., Spring Capital Asia, Limited, etc. Mr. Chan received a Bachelor of Arts degree from the University of Hong Kong, China in November 1986 and a Master of Business Administration from Manchester Business School (then known as Manchester Victoria University) in July 1988. He was also approved as a chartered financial analyst of the Chartered Institute of Financial analysts in September 1993.

Luo ZhuojianSir, 59 years old. Mr. Lo is the Managing Director and responsible officer of Sino-Italian Investment Manager Co., Ltd. he registered the SFC Class 9 licence in January 2021. Mr. Luo is currently an independent non-executive director of China Everbright Investment Management (00165.HK), New Bailey Finance (08439.HK), China Galaxy Securities (06881.HK), CSPC Pharmaceutical (01093.HK) and 02162.HK. Mr. Luo has worked in Morningside Group, Tak Pacific growth Fund, Guohao Group, Hong Kong Railway, etc. Mr. Luo received a Bachelor of Science degree from the University of Birmingham in July 1984, majoring in Civil Engineering and a Master of Business Administration from Hull University in July 1996. Mr. Law is a member of the Board of the Hong Kong Society of Certified Public Accountants (HKICPA) and the Hong Kong Institute of Business Accountants (HKBAA). He is also an accounting consultant appointed by the Ministry of Finance of the people's Republic of China.

Senior management (4)
Zeng thinkingSir, CEO.She ShiyingMa'am, Director of OperationsGuo ZhaocongSir, Director of Investment.Li ZhuofuSir, Chief Financial Officer. Mr. Li has more than 25 years of experience in international finance and investment. He has worked for Ernst & Young, Credit Suisse, Sun Hung Kai and so on. He is currently the Managing Director of Korah (H.K.) Limited, the co-founder and managing director of Korah Asia Limited. Mr. Li received a bachelor's degree in business from the University of Toronto in June 1994 and a master's degree in business administration from the University of Chicago in June 2002.

Shareholder structure

The prospectus showsA SPACIn the post-listing shareholder structureA SPAC (Asia) Holdings Corp.、De Oro Strategics Limited 、Huitong Wynn asset management co., Ltd.Will hold Class B shares.

Financial data

The prospectus showsA SPACRelated expenses of HK $450265 were incurred from January 27, 2022 to February 28, 2022.

agency

A SPACThe main participants in the listing of SPAC are:

A SPAC Holdings 、De Oro 、Huitong WynnAs its sponsor:

Haitong InternationalAs its exclusive sponsor:

KPMGAs its auditor.

Sullivan CromwellAs the legal adviser to his company in Hong Kong and the United States:

Cai Yu Li(science Law Hong Kong Joint Venture) is the legal adviser to its securities firm in Hong Kong and the United States.

The translation is provided by third-party software.

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香港第10家SPAC：郑志刚等参与的A SPAC，递交招股书