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In SPACs we trust: Asia’s UHNWIs jump onto the latest fad

Enticed by the promise of instant riches, UHNWIs and HNWIs have been jumping on the bandwagon of SPACs, a quasi-IPO that allows a high-growth company to go public without the rigmarole of an IPO. SPACs (special purpose acquisition companies) are blank-check companies created to raise funds via an IPO and finance a merger or acquisition within a time span of…

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