In financial markets, the frenzy over Special Purpose Acquisition Companies – known as SPACs – is back in the headlines. That’s thanks to a mega merger deal between Singapore’s super app Grab and U.S. SPAC Altimeter Growth Capital valued at close to $40 billion.

The merger is the largest of its kind and comes at the tail end of a frenzy over SPACs, raising questions about the risks involved for investors.

Correspondent Liling Tan looks at what this all means for the SPAC market.