S'pore's first listed Spac starts trading: What is a Spac and how does it work?

The listing of Vertex on the SGX on Jan 20, 2022, will be followed by Pegasus Asia and Novo Tellus. PHOTO: THE STAR/ASIA NEWS NETWORK
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SINGAPORE - Singapore’s first special purpose acquisition company (Spac) started trading on the mainboard of the local bourse on Thursday (Jan 20).

Vertex Technology Acquisition Corp (VTAC) began trading at 2pm at $5.25 per unit, up from its IPO price of $5. It closed at $5.05, with about 21 million units changing hands. 

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