VERTEX Technology Acquisition Corporation (VTAC) made history as the first special purpose acquisition company (SPAC) to list on the Singapore Exchange (SGX) on Jan 20, 2022.
The size of VTAC's public offer tranche was small - 600,000 units at the initial public offer (IPO) price of S$5 per unit. VTAC's public offer tranche drew 3,716 valid applications and was 36 times subscribed. Perhaps retail investors like Singapore's SPAC framework as well as the sponsor and management of VTAC.
Other SPACs that have since debuted on the SGX include Pegasus Asia and Novo Tellus Alpha Acquisition.
The bourse, bankers, lawyers and various parties involved in SPAC IPOs are the immediate winners from the emergence...
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