New World CEO joins HK's rising SPAC fad, launches blank cheque vehicle

New World CEO joins HK's rising SPAC fad, launches blank cheque vehicle

FILE PHOTO: The logo of Hong Kong Exchanges & Clearing Ltd. (HKEX) is seen at the financial Central district in Hong Kong, China September 14, 2020. REUTERS/Tyrone Siu

Hong Kong’s property developer New World Development CEO Adrian Cheng has become the latest investor to back a blank cheque company looking to go public on the Hong Kong stock exchange, after success in promoting the merger between a local biotech unicorn and his US SPAC last year.