Versions

 

18B.41

The total funds to be raised from the independent third party investors referred to in rule 18B.40 must constitute at least the following percentage of the negotiated value of the De-SPAC Target as stated in the announcement referred to in rule 18B.44.

Negotiated value of the De-SPAC Target (“A”) Minimum independent third party investment as a percentage of (A)
Less than HK$2,000,000,000 25%
HK$2,000,000,000 or more but less than HK$5,000,000,000 15%
HK$5,000,000,000 or more but less than HK$7,000,000,000 10%
HK$7,000,000,000 or more 7.5%
 
Note 1:    The Exchange may accept a lower percentage than 7.5% in the case of a De-SPAC Target with a negotiated value larger than HK$10,000,000,000.
 
Note 2:    A SPAC must demonstrate to the Exchange that the required minimum independent third party investments have been committed by the time of the announcement referred to in rule 18B.44.