South Korea-based brokerage, E*Trade Korea and Japanese investment firm, SBI, will jointly list a special purpose acquisition company (SPAC) in July, reported Asia Economy.
The report, which cited information from the company, said the two firms completed the registration of the SPAC on 28 May and plan to apply for preliminary evaluation this month.
They are planning to raise KRW 20bn (USD 17m) through the SPAC, to be used to acquire a company with a strong technology background and good prospective growth, the report added.
(Source: Asia Economy)
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