Haitong International Completes its First U.S. SPAC deal for Keyarch Acquisition

HONG KONG,Jan. 26,2022 -- Haitong International Securities Group Limited ("Haitong International"; Stock Code: 665.HK) today announced that it has completed an IPO deal for Keyarch Acquisition Corporation ("Keyarch Acquisition" or "The Company",Stock Code: KYCHU),which listed on the Nasdaq stock market in the format of a Special Purpose Acquisition Company (SPAC) on 25 January (New York time). Haitong International acted as the Joint Bookrunning Manager. The deal is Haitong International's first SPAC IPO with Haitong International Securities (USA) conducting underwriting duties,which makes Haitong International the first among Chinese IBs to conduct underwriting with its U.S. entity.

Keyarch Acquisition is backed by Keywise Capital Management,an asset management company,and plans to target disruptive technology and innovative services businesses,focusing on those in developed economies such as the U.S.,Israel and Southeast Asia. The Company raised USD115 million (post-shoe) through the IPO,with a total of 11.5 million units issued and each unit priced at USD10.

Positioned as an international financial institution with established presence in Hong Kong,Haitong International has been striving to develop its global investment banking business. With consistent effort over the past years,Haitong International has already established its global financial servicing network covering the world's major capital markets including Hong Kong,Singapore,New York,London,Tokyo,Mumbai and Sydney. Over the years,Haitong International has been participating in several landmark deals in the global capital markets and also completed a number of signature homecoming listings for Chinese corporates.

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