Vertex Technology Acquisition Corp, the first spac here to file its prospectus back in December 2021, has called for a trading halt, "pending release of an announcement."
VTAC, together with Novo Tellus Alpha Acquisition and Pegasus Asia, are the only three spacs on the Singapore Exchange S68 .
Often described as blank cheque listings, they were all listed nearly two years ago, amid a spate of interest in such vehicles for companies to list instead of via the traditional IPO route.
Spacs here are to acquire an unlisted target, a process informally called "despac".
The three spacs here are likely to announce soon if they are going ahead with a despac, with the two-year deadline looming. If not, they are to apply for a one-year extension from SGX.
