Number of SPAC IPOs in South Korea, Mainland China, Hong Kong and Singapore 2020
Approximately four times more SPAC IPOs were completed in South Korea compared with Mainland China in 2020. The number of SPACs listed reached 19 in South Korea making it the Asia-Pacific territory with the highest number of SPAC IPOs in that year. Meanwhile, almost 250 SPAC IPOs took place in the United States in the same year. A special purpose acquisition company (SPAC) is a company with no business operations which is set up for the sole purpose of raising capital through an initial public offering with the goal of buying an existing company.
