The translation of the heading to English is: "New ground for acquisitions: Hong Kong records first SPAC listing.

Following the initial public offering of a company acquired by a Special Purpose Acquisition Company (SPAC), a fierce competition for suitable target companies and regulatory approvals is emerging in Hong Kong. Singapore-based Synagistics, a digital trading platform supported by an Alibaba Group unit, went public on Wednesday after merging with HK Acquisition. This IPO is the first of its kind since Hong Kong allowed the listing of SPACs in 2022. These shell companies aim to take private companies public. The introduction of such financial instruments in Hong Kong initially raised hopes among investors, but the reality shows that the path to successfully utilizing these vehicles is fraught with challenges. Finding suitable target companies and often lengthy processes to obtain regulatory approvals are tasks that SPACs must overcome to succeed.