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Jan 08, 2022 05:47 PM
BUSINESS

SPAC Race Heats Up in Asia With First Singapore Listings Due

Singapore Exchange headquarters on Feb. 17. Photo: Bloomberg
Singapore Exchange headquarters on Feb. 17. Photo: Bloomberg

(Bloomberg) — Blank-check companies are set to make a debut in Singapore this month as the financial hub, which has struggled to attract new stock listings, gears up for competition from Hong Kong.

Vertex Technology Acquisition Corporation Ltd., sponsored by state investor Temasek’s Vertex Venture Holdings Ltd., is seeking at least S$170 million ($125 million), while Tikehau Capital SCA-backed Pegasus Asia could raise at least S$150 million. The listings are slated for Jan. 21 and Jan. 25, respectively.

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