The Korea Economic Daily reported -

Woori Investment Securities, the South Korean brokerage, will likely list a special purpose acquisition company (SPAC) in April, and the size may be as much as KRW 45bn (USD 39m).

The report added that Woori is planning to acquire a company in the environmental, biotechnology, healthcare or alternative energy sectors.

Shinhan Investment, another South Korean brokerage, also plans to list a SPAC in April, with the size estimated to be KRW 35bn (USD 31m).

The report added that Shinhan is also looking to make acquisitions in the environmental, biotechnology, healthcare or alternative energy industries.

Whilst a report in Korea’s Money Today newspaper stated -

Meritz Securities and A.T. Kearney Korea, the South Korean brokerage and consulting firms, will jointly list a SPAC in May.

The report, citing information released by Meritz Securities, noted that it plans to raise KRW 30bn (USD 21m) for the SPAC.

Samsung Securities, another Korean brokerage, has agreed to invest KRW 5.2bn in the SPAC, prior to the IPO, and was also hired as the manager for the offering.

Meritz Securities and AT Kearney completed the registration of the SPAC on 24 February, and plan to apply for preliminary evaluation this month.

The SPAC would look for a company involved in new technology with a strong market presence, the report added.

See here for more stories on Korea’s growing SPAC market.

(Sources: Korea Economic Daily, Money Today)

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