Superman is up to something new...
A company backed by Li’s family is working with advisers on the potential SPAC initial public offering, according to the people, who asked not to be identified because the information is private. They are considering seeking around US$400 million, though the exact terms haven’t been finalized, the people said.
The blank-check company could file registration documents with the U.S. Securities and Exchange Commission this week, the people said.
https://www.thestandard.com.hk/break...tion/2/166217/
And this...
https://www.livemint.com/companies/n...051405702.htmlBillionaire Li Ka-shing reassigned a portion of his long-held stake in Zoom Video Communications Inc. to his businessman son Richard.
The Hong Kong tycoon, who’s one of the biggest owners of the video-conferencing company, reduced his holding by 4.7 million shares -- equal to 1.6% of the company -- through British Virgin Islands investment vehicles, according to regulatory filings this week.
Most of the junior Li’s fortune is derived from his stake in insurer FWD Group Ltd. After a brief stunt at his father’s ports-to-retail conglomerate, the Stanford University dropout decided to break away to build his own empire.https://www.thestandard.com.hk/secti...ion/17/227766/FWD Group, controlled by billionaire Richard Li Tzar-kai, is seeking a listing in Singapore or through a combination with a US-listed blank-check company, to keep its dual-class shareholding structure, Reuters' IFR reported yesterday.
FWD Group had been working on a Hong Kong initial public offering that could raise up to US$3 billion (HK$23.4 billion), the report said. However, the city's listing rules only permit innovative companies to carry a weighted voting rights structure, and FWD failed to meet that requirement.