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Singapore Exchange (SGX) is pleased to welcome the listing of Vertex Technology Acquisition Corporation Ltd (VTAC), as part of SGX’s inaugural batch of Special Purpose Acquisition Company (SPAC) listings. VTAC will be listed on the SGX Mainboard under the stock code “VTA”.
The SPAC’s Sponsor is Vertex Venture Holdings Ltd (Vertex Venture), a Singapore-based global venture capital platform which manages over US$5.1 billion of assets and has an active portfolio of over 200 companies. Vertex Venture has a strong track record of over 30 years of investing in innovative technologies and divesting reputable portfolio companies through multiple exit routes.
VTAC aims to acquire one or more businesses that have a core technology focus, highly differentiated products and scalable business models. Its target investment themes include cyber security and enterprise solutions, AI, consumer internet and technologies, fintech, autonomous driving and new-energy vehicles, as well as biotech and digital healthcare.
Chua Kee Lock, Chairman, VTAC, said, “VTAC is honoured to have successfully completed our IPO and be the inaugural SPAC listing on the Mainboard of the Singapore Exchange. We are committed to staying focused on the important step of a business combination with a company at the forefront of technology transformation. We thank the Singapore Exchange for its vision and foresight and we look forward to contributing to the vibrancy of the capital market ecosystem in Singapore.”
Pol de Win, Senior Managing Director, Head of Global Sales and Origination, SGX, said, “We are delighted to welcome Vertex Technology Acquisition Corporation to our new SPAC family. The strong reception to VTAC’s offering from both institutional and retail investors clearly shows the demand for SPACs in this region. With Vertex Venture’s global network and track record, well-established shareholder ecosystem and deep local expertise, VTAC is uniquely placed to capture market opportunities and create long-term value for its stakeholders. We look forward to supporting VTAC as it seeks to invest in fast-growing, scalable technology-driven businesses.”
VTAC opened at S$5.25 today.
