Singapore is set to welcome its first listings of special-purpose acquisition companies, or SPACs. Two such companies have lodged their preliminary prospectus with the Monetary Authority of Singapore. Vertex Technology Acquisition Corp (VTAC) is said to have started book building for its IPO, expected on Jan 21. Focusing on cybersecurity, fintech and other sectors, it’s backed by Temasek Holdings’ Vertex Venture. It’s looking to raise some $170 million. Another SPAC, Pegasus Asia, has also started the investment roadshow for its IPO. It’s said to be listing on Jan 25.
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