HONG KONG—Blank check companies known as SPACs can list in Hong Kong starting Jan. 1, the stock exchange operator said on Friday, making it the latest global bourse to tap demand for the investment vehicles although interest in them has waned from earlier this year. Market participants said Hong Kong hoped to attract investors from mainland China to list SPACs, or special purpose acquisition companies that raise cash to buy private firms and take them public without a traditional initial public offering (IPO). The move to open up to SPACs follows scrutiny from both Chinese and U.S. regulators that caused a sharp slowdown in Chinese listings in the United States. Friday’s statement from Hong Kong Exchanges and Clearing also set out adjustments to proposals for a SPAC regime that had been published in a consultation document this year, relaxing some of those initial rules. Tweaks included that a SPAC’s securities …
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