Hainan marks first SPAC listing


Lately, Hainan Manaslu Acquisition Corp., a reverse takeover founded and run by Hainan Zhongtian Yunlang Private Equity Fund Management Co., Ltd., floated an IPO on Nasdaq under the symbol of HMAC with a market cap over USD 90 million, marking Hainan’s first SPAC listing, according to Sanya Financial Development Bureau.

HMAC is reported to identify a target boasting of promising strategic growth and rising value expectations from high-growth sectors including intelligent manufacturing, big consumption, and artificial intelligence on a global scale. It has signed an acquisition agreement with the qualified target, and plans to complete the acquisition in the first quarter of 2023.

Registered as a private equity fund management company in Sanya Central Business District in April 2021, Zhongtian Yunlang is composed of veterans in corporate operation, strategic consulting, and investment banking from Beijing, Shanghai and Hong Kong. As a boutique investment banking and equity investment operator focusing on the new model of digital consumption and opportunities of technology-driven industrial innovation, it engages in cross-border acquisition, equity investment, capital operation of listed companies, among others.

Headquartered in Hainan, Zhongtian Yunlang aligns with overseas capital markets, leverages foreign funds to attract industrial capital, and introduces listed projects with key industrial advantages to Hainan, contributing to the construction of Hainan Free Trade Port from point to area through the driving effect of listed companies, according to its head.

Copyright 2021 Foreign Affairs Office of Hainan Province. All rights reserved.


Copyright 2021 Foreign Affairs Office of Hainan Province.
All rights reserved.