| 英文摘要 |
In the year 2020, special purpose acquisition companies (SPACs) grew exponentially in the United States. The IPO proceeds of SPACs in 2020 was larger than the proceeds of SPACs from the past ten years com-bined, it is almost equal to the amount of what traditional IPOs have raised. This phenomenon has been referred to as the “2020 SPAC Boom”. But what exactly are SPACs? Basically, SPACs are companies that do not have any operations, their “special purpose” are to seek to acquire other unlist-ed companies. In other words, SPACs are shell companies that provide an alternative track to list companies on stock exchanges. By merging SPACs with unlisted companies, the investors profits by selling off the newly converted stocks after the merger is complete. Nothing similar to SPACs have ever emerged in Taiwan, but when facing the ongoing SPAC frenzy in the United States, Taiwan should con-sider the possibilities of introducing SPACs. The article attempts to pro-vide an early view regarding this issue. Part I is the introduction. Part II introduces the developments and regulations of SPACs in the United States. Part III analyzes the pros and cons of SPACs, and discusses the flaws of the current regulations. Part IV observes the implementations and developments of SPACs in other countries, such as the United Kingdom, Italy, South Korea and Malaysia. Part V discusses the possibility of intro-ducing SPACs into Taiwan, and how to amend the related laws and regula-tions to accommodate SPACs. Lastly, part VI reviews and concludes the article.
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