After IPO drought, VTAC and Pegasus Asia lead Singapore’s first SPAC listings


Source: disruptive.asia disruptive.asia

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The first blank-check listings are about to kick off in Singapore, as special purpose acquisition companies (SPACs) Vertex Technology Acquisition Corporation (VTAC) and Pegasus Asia launch their IPOs. Temasek, the Singapore government-owned investment authority, is backing VTAC’s IPO, which may raise at least S$170 million ($125 million) by January 21, according to Bloomberg. Pegasus Asia, sponsored by Tikehau Capital SCA, could raise up to S$150 million (S$110 million) by January 25. The two IPOs will pave the way for a SPAC-driven rise in transactions to benefit Singapore’s poor IPO activity in 2021. The country saw only eight IPOs last year,...