The clock is ticking for Singapore’s pioneer Spacs

AS THE three Singapore-listed Special Purpose Acquisition Companies (Spacs) conduct their annual general meetings (AGMs) this month, top of mind for shareholders is whether the sponsors have gotten anywhere close to finding a target to acquire.

With about nine months to the deadline and global macroeconomic headwinds getting stronger, the window for a successful de-Spac appears to be shrinking by the minute.

In their pre-AGM replies to shareholders, the Spacs’ sponsors said they have yet to enter any binding acquisition agreement with a target.