Singapore buyout firm Novo Tellus Capital Partners has applied to list a special purpose acquisition company with the city-state’s exchange, Bloomberg reports, citing sources with knowledge of the matter.
The technology and industrials-focused firm is planning to raise between $148 million and $185 million through an IPO of the blank-check company, said the people, who asked not to be identified as the process is private. The IPO could take place as soon as the end of this year.
The move confirms reporting from last summer that Novo Tellus was mulling a SPAC. Read more.
