SINGAPORE – A Singapore special-purpose acquisition company (SPAC) backed by state investor Temasek’s Vertex Venture Holdings has started the book building for its initial public offering (IPO) and is set to list in the city-state on Jan. 21, a source with knowledge of the matter said on Friday.
Vertex Technology Acquisition Corp (VTAC), a SPAC focussing on cybersecurity, fintech and other sectors, said on Thursday it aimed to raise at least about S$170 million ($125 million) by selling units at S$5 apiece.
The source declined to be identified as he was not authorised to speak to the media.
There was no immediate response to a query sent to Vertex Venture Holdings.
($1 = 1.3599 Singapore dollars)