Temasek Unit-Backed SPAC Rises in Singapore Trading Debut

(Bloomberg) — The first blank-check company to debut in Singapore rose as much as 5% after an offering that attracted strong demand from retail and institutional investors.

Vertex Technology Acquisition Corporation Ltd. (VTAC), sponsored by state investor Temasek’s Vertex Venture Holdings Ltd., traded at S$5.25, versus its offering price of S$5 per unit. The special purpose acquisition company’s initial public offering is the first for such vehicles in the city-state.