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SPAC Race Heats Up in Asia With First Singapore Listings Due

  • Two blank-check companies are lined up to debut this month
  • Rulebook for listings was released by city-state in September

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.