News Snapshot:
HK Acquisition Corp, a blank-cheque company backed by the former head of Hong Kong’s de facto central bank, has its book fully covered for its HK$1 billion (US$127 million) initial public offering (IPO) on Monday, according to people close to the transaction. The special purpose acquisition company (SPAC) formed by Norman Chan Tak-lam , the former chief executive of the Hong Kong Monetary Authority (HKMA ), along with two family members of the city’s former chief executive Donald Tsang Yam-kuen , will issue 100 million shares at HK$10 each. Every two shares will entitle the holder to one warrant, exercisable...
