STExplains: What is a Spac and how does it work?

SINGAPORE – Singapore’s first special purpose acquisition company (Spac) will list on the mainboard of the local bourse on Thursday (Jan 20).

Vertex Technology Acquisition Corp (VTAC), which saw its public offer tranche 36 times subscribed at the close of its initial public offering (IPO) on Wednesday, is expected to start trading on the Singapore Exchange (SGX) at 2pm.