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Hong Kong’s Rosewood eyes $400m SPAC listing amid flurry of deals in Asia

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If the SPAC deal is successful, it will join a recent flurry of SPAC IPO transactions in the continent.

Hong Kong-based luxury Rosewood Hotel group has filed for a special purpose acquisition company (SPAC) listing that could raise around $400m, two sources close to matter have disclosed.

The luxury hotel group, with close familial ties to property developer New World Development (NWD) has recruited Credit Suisse and UBS to arrange the US SPAC listing, targeting the consumer sector.

If the SPAC deal is successful, it will join a recent flurry of SPAC IPO transactions in the continent with companies tempted by profitable returns once the SPACs merge with target firms.