Novo Tellus-backed firm becomes third SPAC to make debut in Singapore
Novo Tellus Alpha Acquisition has become the third special purpose acquisition company firm to list in Singapore
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Novo Tellus Alpha Acquisition has become the third special purpose acquisition company firm to list in Singapore
The SPAC will seek targets sized between S$500 million ($372 million) and S$1 billion ($744 million) in the Indo-Pacific region.
The SGX-listed SPAC said that its offering was about 36 times subscribed, while its international placement was 8.8 times subscribed.
The SPAC has already secured S$80m from 13 investors who will subscribe for 16 million cornerstone shares at an offering price of S$5 apiece.
The SPAC has so far secured the backing of 13 cornerstone investors, who will subscribe to 22.2m cornerstone units at S$5 apiece.