Photographer: Victor J. Blue/Bloomberg

Aquaron Acquisition, a special purpose acquisition company (SPAC) that targets the new energy sector in Asia, has filed with the US Securities and Exchange Commission (SEC) to raise up to $50 million in an initial public offering (IPO).

The blank cheque company, led by CEO and chairman Jie Weng, the director of private equity and real assets investing at PICC Capital Equity Investment Company, is offering 5 million units at $10 each.

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