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Hony Capital-backed SPAC pulls IPO: Reuters

Hony Capital-backed blank check company Hony Capital Acquisition Corp has pulled its planned U.S. IPO, reported Reuters.

Hony Capital-backed blank check company Hony Capital Acquisition Corp has pulled its planned U.S. IPO, reported Reuters. The newswire noted that the SPAC has cited market volatility as the reason for the withdrawal. The SPAC was seeking to raise $300 million for the offering by pricing shares at $10 apiece.