Futu News reported on May 15th that the special purpose acquisition company (SPAC) founded by Chow Tai Fook Jewellery and Zheng Zhigang, an entrepreneur in charge of New World,$Artisan Acquisition Corp. (ARTAU.US) $It officially landed on Nasdaq on Friday with an issue price of $10 and a total of 30 million units.

Endorsed by well-known anchoring investors and luxury underwriting team

This time Artisan Acquisition went public in the United States and won the favor of luxury capital.

Its anchor investors Aspex and PAG are well-known investment groups in the Asia-Pacific region, of which PAG has more than $16 billion in assets under management, making it one of the largest independent diversified investment management groups in Asia.

In terms of underwriting teamFortune co-acts as an underwriter with international famous investment banks Credit Suisse and UBS. At the same time, in the process of subscribing for new shares, Futu also opened a new channel of SPAC for professional investors to help Artisan Acquisition Corp. Sprint for NASDAQ.

Sponsor: the new layout of the head of the hundreds of billions of empires

SPAC itself does not operate any business or assets, but after applying for listing and raising funds, the sponsors of SPAC help the target company complete the merger and acquisition, so that the target company can be listed. The inherent logic of SPAC being able to go public as a shell company is that investors believe in the sponsors and management of SPAC. Generally speakingThe promoters and management teams of SPAC are usually made up of senior people or business elites with professional experience in investment, investment banking or specific industries.

The founder of Artisan Acquisition, Zheng Zhigang, a well-known entrepreneur in Hong Kong, also provided a strong endorsement for the listing of SPAC.

Cheng Zhigang is the third generation heir to Cheng Yutong, one of the four families in Hong Kong.$New World Development (00017.HK) $Executive vice chairman and general manager of$Chow Tai Fook Jewellery (01929.HK) $Executive director of the company.The Cheng family ranks third in Forbes' 2021 Hong Kong Rich list. As of December 31, 2020, the total assets of its listed portfolio companies exceeded $88 billion.

Zheng Zhigang is also the founder of the K11 brand and C Ventures. Has rich experience and excellent past performance in the field of investment. Among them, in the field of health care, Dr. Cheng led the completion of the HK $21.5 billion acquisition of Fortis Insurance in 2019 and launched a new health brand Humansa (Renshan excellent Society) to enter the health care market in 2018.

C Capital is an investment club for the world's most elite families and funds, with many outstanding investment cases in the global healthcare, consumer and technology sectors, including popular companies such as XPeng Inc., NIO Inc. Automobile, JD Logistics, Inc., Full Truck Alliance Co. Ltd. Group, Gojek, Little Red Book and Xiaoma Zhihang.

According to Artisan Acquisition's prospectus, the SPAC will focus on the high-growth global healthcare, consumer and technology industries, drawing on years of experience and expertise of the management team to identify quality projects around the world. The sponsor team relies on strong project excavation experience, as well as excellent investment cases in these areas. It leaves a wide range of imagination space for the future of Artisan Acquisition.

The rapid listing of SPAC is popular all over the world.

SPAC (Special Purpose Acquisition Company) is a backdoor listing in the US stock market. Unlike a shell listing, SPAC is built by investors to set up a SPAC company for listing. The purpose is to raise funds from investors to acquire a target company within a limited time (usually 24 months), so that it can quickly become a listed company in the United States.

In 2020, under the background that the large-scale economic stimulus under the epidemic led to the expansion of the financial market and the difficulty of traditional IPO, SPAC emerged as a new force in the US capital market. Compared with the traditional IPO,SPAC listing financing method, it combines the advantages of convenient listing process, low cost, low threshold, short time and so on.

In 2020, there were 248 SPAC listings, accounting for 55% of the total number of IPO in the US stock market that year, raising $83.341 billion. According to the data provided by SPAC Analytics, the US SPAC market broke the 2020 record in less than three months this year, completing more than 100 SPAC transactions in March alone.

But SPAC listing activity in the US has slowed since April against the backdrop of strong SEC regulation. According to SPAC Research, only 10 SPAC have issued so far in April, down 90 per cent from the previous month. Under the promotion of "SPAC de-foaming", higher requirements will be put forward for the sponsor management team in high-level capabilities such as opportunity discovery, asset pricing, risk identification, structural design and so on.