Dear readers, SPACS or Special Purpose Acquisition Companies are hot in Singapore recently. Think Vertex SPAC. Think Pegasus SPAC. Think Novo Tellus SPAC for the Singapore stocks markets.
First, Vertex SPAC or Vertex Technology Acquisition Corporation (“VTAC) which will start trading on 20 Jan 2022, on a “ready” basis and is issuing 11.8 million units at an offer price of S$5 apiece. VTAC will focus on Artificial Intelligence, Cyber Security and enterprise Solutions, Consumer Internet and technologies,Financial technologies, Autonomous driving and new-energy vehicles and Biomedical technologies and digital healthcare.
Second, Pegasus SPAC which filed its prospectus on Thursday (6 Jan 2022), offering 25.6 million units at $5 per unit. It was reported that Pegasus may be interested in co-living and co-working platforms as promising areas of growth in the proptech sector.
Third, Novo Tellus SPAC which lodged its preliminary prospectus on Thursday (13 Jan 2022). Novo Tellus will be offering 30 millions at $5 a unit and the listing is planned on 27 Jan 2022. It is reported that the SPAC will seek targets in the tech and industrial sectors.
And let us not forget homegrown Grab which listed its SPAC on NASDA and traded at USD 6.04 on 14 Jan 2022 or down by almost 45% from the USD 11 price of Altimer share on the date before Grab debuted its SPAC.
I do not understand anything about SPACs and hence should stay clear of them.
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