The initial public offering of Vertex Technology Acquisition Corporation (VTAC) — the blank cheque firm sponsored by Vertex Holdings — has received strong demand from institutional and retail investors, according to a statement on Wednesday.
The Singapore Exchange (SGX)-listed special purpose acquisition company (SPAC) said that its offering of 0.6 million units was about 36 times subscribed, while its international placement of 11.2 million units was roughly 8.8 times subscribed. This brings the gross proceeds raised to S$200 million ($148 million) representing 40 million units.
