The 3 recently listed SPACs have generated “strong interest” and raised total IPO proceeds of about S$528 million, leading Singapore’s IPO market to its busiest half year in five years, according to a PwC Singapore report.
The listing of Vertex Technology Acquisition Corporation marked the largest local IPO in the first half of 2022 after raising S$208 million, followed by Pegasus Asia and Novo Tellus Alpha Acquisition raising S$170 million and S$150 million respectively, The Business Times reports.
PwC noted that this highlights a positive trend of SPAC IPOs “successfully” making their debut on the Singapore Stock Exchange, after the SPACs came under a framework introduced by Singapore’s exchange in September 2021. Read more.
