Novo Tellus would join Vertex Holdings, a unit of Temasek Holdings, in seeking to be among the first to launch a blank-check company in the city-state, Bloomberg News reported this week. A SPAC-driven surge in listings would benefit Singapore’s exchange, which has seen just three IPOs this year, raising US$242 million in total, according to data compiled by Bloomberg.
Singapore buyout firm Novo Tellus Capital Partners is considering setting up a special purpose acquisition company to list in the city-state as regulators prepare to authorize the vehicles in the local market, people with knowledge of the matter said.
The technology and industrials-focused private equity firm has had preliminary discussions with banks, said the people, who asked not to be identified as the process is private. The company is awaiting official exchange guidelines before making a final decision, the people said.
