Global law firm Freshfields has advised Synagistics Pte. Ltd (‘Synagistics’) on its completed de-SPAC transaction with HK Acquisition Corporation, a special purpose acquisition company (‘SPAC’) listed on the Hong Kong Stock Exchange (‘HKSE’), and shares of Synagistics commenced trading on HKSE on 30 October 2024.  The transaction is the first successful de-SPAC in Hong Kong.

Synagistics operates the Synagie Platform, a data-driven digital solutions platform in Southeast Asia.  It provides integrated digital commerce solutions to its brand partners. Synagistics and its brand partners’ businesses cover various sectors, including fashion and apparel, premium beauty and wellness and premium lifestyle and living sector. Its geographical presence in Southeast Asia covers Singapore, Malaysia, the Philippines, Vietnam, Thailand and Indonesia.

The Freshfields team advising on the transaction was led by partners Grace Huang and Arun Balasubramanian, supported by counsel Cindy Kwong, senior associate Frank Jin and associates Kristy Wong and Yitian Jin.