Singapore buyout firm Novo Tellus Capital Partners is considering setting up a SPAC to list in the city-state as regulators prepare to authorize the vehicles in the local market, Bloomberg reports, citing people with knowledge of the matter.
The technology and industrials-focused PE firm has had preliminary discussions with banks, said the people, who asked not to be identified as the process is private. The company is awaiting official exchange guidelines before making a final decision, the people said.
Novo Tellus would join Vertex Holdings Ltd., a unit of Temasek Holdings Pte, in seeking to be among the first to launch a blank-check company in the city-state. A SPAC-driven surge in listings would benefit Singapore’s exchange, which has seen just three IPOs this year, raising $242 million in total. Read more.
