Potential SPAC sponsors hint at new tech SGX listings: CGS-CIMB

The brokerage company also identified several unicorns as possible SPAC targets.

In a special purpose acquisition company (SPAC) primer by CGS-CIMB, Tikehau Capital, Vertex Holdings, and Novo Tellus were cited as possible SPAC sponsors. Several media reports corroborated this statement.

According to the primer, private equity firm Novo Tellus has been reported by Bloomberg as interested in listing a SPAC in Singapore. Novo Tellus focuses mainly on tech-related investments. Meanwhile, another report said Vertex Holdings is planning to raise funds for dealmaking by listing a SPAC in Singapore. Vertex Holdings is a venture capital holdings company owned by Temasek.

Furthermore, some of the ASEAN unicorns, or startup companies with $1.36b (US$1b) value, identified as potential SPAC targets were J&T Express, Traveloka, Carousell, and Ninja Van.