China Focused Blank Check Investment Firm TKK Symphony Files For $200M US IPO

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TKK Symphony Acquisition Corporation, a China-focused blank check company founded by Sing Wang, a former TPG partner, has filed for U.S. initial public offering to raise US$200 million.

The company offers 20 million shares at a price of US$10 each, according to its IPO prospectus.

Founded in 2018, TKK Symphony is a Cayman Islands exempted company incorporated as a blank check company for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. Its prospective target business will not be limited to a particular industry of geographic region.

Wang was the CEO of Minsheng Financial, an overseas investment platform of China Minsheng Investment Group from 2016 to 2017. Prior to Minsheng, Wang worked as co-chairman of TPG Greater China for TPG Capital, a global alternative asset firm, covering private equity, growth venture, real estate, credit, and public equity, focusing on mid-stage businesses with growth potential. He also worked for Goldman Sachs previously.

The company aims to capitalize on growing opportunities created by Chinese consumers, including traditional consumer staples, luxurious lifestyle products, entertainment and leisure and other consumer discretionary products, e-commerce and online retail and others.

The company said it cannot guarantee that its securities will be approved for listing on Nasdaq.

Several investment firms have joined the IPO wave recently. Last month, Shanghai Realway Capital Asset Management Co., Ltd. filed for an IPO in Hong Kong. In June, China Renaissance, the investment bank that facilitated the growth of a new generation of Chinese tech firms, also filed for a Hong Kong IPO. 



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