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Temasek Unit-Backed SPAC Rises 1% in Singapore Trading Debut

  • Blank-check company is the first to list in the city-state
  • Singapore is set for two more SPAC debuts later this month
Updated on

The first blank-check company to debut in Singapore climbed 1% in its first day of trading 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., closed at S$5.05 on the Singapore exchange, after having jumped as much as 5% in early trade. The special purpose acquisition company’s initial public offering is the first for such vehicles in the city-state.