Novo Tellus files for blank-check IPO in SGX

The SPAC size is between $200m to $250m.

Singapore buyout firm, Novo Tellus Capital Partners, has applied to list a special purpose acquisition company (SPAC) with the Singapore Exchange, reported Bloomberg.

The firm plans to raise around $200m (US$148m) through an initial public offering of the blank-check company. The initial public offering (IPO) could take place as soon as the end of 2021.

Novo Tellus would be one of the first to list a blank-check company on Singapore’s exchange, following Vertex Holdings and European asset manager Tikehau Capital. The potential IPO comes after Singapore started allowing blank-check companies to list in September.

Deliberations are still ongoing and the size and timeline of the Novo Tellus SPAC IPO could still change. Novo Tellus declined to comment.