Femco Steel Technology, a steel golf shafts manufacturer, agreed to go public via SPAC merger with Chenghe Acquisition, a special purpose acquisition corporation, in a $400m deal. "This transaction will give us the resources that will enable us to capture the positive trends in our industry. Given that the U.S. is biggest market for our KBS brand in particular and golf shafts in general, we intend to invest and leverage on our position in the U.S. golf market and accelerate our reach and depth in the global golf market so as to increase KBS brand value globally," David Chuang, Femco Steel Technology Chairman.