According to the disclosure of the Hong Kong Stock Exchange on January 31, Interra Acquisition Corporation submitted a listing application to the main board of the Hong Kong Stock Exchange and plans to issue class A shares and listing warrants to professional investors. Among them, Agricultural Bank of China International and JPMorgan Chase are the co sponsors.
At present, the issue quantity of inter RA has not been determined yet. The Hong Kong Stock Exchange stipulates that the total amount of funds raised by the initial offering of SPAC company shall be at least HK $1 billion, and the issue price per share shall be at least HK $10. In addition, the trading unit and subscription amount of SPAC shares shall be at least HK $1 million.
sponsors and related persons:
The sponsors of Interra Acquisition Corporation are Primavera LLC, ABC international asset management and abci am acquisition. Primavera LLC and abci am acquisition hold 60% and 40% of the issued Class B shares of the company respectively.
Primavera LLC has joint shareholders with Chunhua, a well-known private equity fund group, and its holder is also the founder, partner and owner of Chunhua. Mr. Hu Zuliu is the single largest shareholder of Primavera LLC and holds more than one-third of the equity of Primavera LLC. Primavera LLC’s management team is also Chunhua’s management and execution team, including Chen Tong, who is Chunhua’s partner and founding team member, and Ge Chengyuan, who has rich experience in the execution of Chunhua’s private equity and venture capital.
As a leading alternative investment management company rooted in China, Chunhua has offices in Beijing, Hong Kong, Singapore and Palo Alto. Chunhua provides fund management services for top financial institutions, sovereign wealth funds, pension plans, endowment funds, businesses and family offices.
Abci am acquisition is a special purpose company wholly owned by ABC international asset management, while ABC international asset management is wholly owned by ABC international. ABC international asset management is the asset management department of ABC international. It was established in 2011 and has rich experience in asset management business.
ABC international asset management (together with the domestic entities of ABC International) has rich investment and trading experience. At present, it manages more than 70 funds with a total subscription of more than 100 billion yuan. The fund’s investment portfolio spans the fields of infrastructure construction, Jiangsu Nonghua Intelligent Agriculture Technology Co.Ltd(000816) , new energy and urban renewal. Investors mainly come from government guided industrial funds, state-owned enterprises and financial institutions.
business strategy:
Interra Acquisition Corporation will focus on high growth companies in Greater China to complete the M & A transactions of special purpose acquisition companies, so as to create attractive returns for all shareholders.
In line with the business strategy, Interra has determined the following general standards and guidelines:
Large market growth potential and high barriers to entry; Comply with economic trends and national industrial policies; Industry leaders with significant competitive advantages; Experienced and visionary management team; The advantage of timely access to the capital market; Superior financial position and high return on equity; And environmental and social friendly business model and good corporate governance.
Target identification: driven by urbanization, consumption upgrading, technological innovation and energy decarbonization, China’s economy has grown rapidly in recent years. Among them, a large number of unlisted Unicorn companies have continued to grow in the fields of innovation and technology, consumption and new retail, advanced manufacturing, medical health and climate action.
