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VTAC is sponsored by Vertex Venture Holdings (VVH), a wholly owned subsidiary of Temasek. The deal is already substantially covered by the 13 cornerstones having taken up 65% of the entire deal. As per media reports, the rest of the shares have been spoken for as well.
With VVH’s background in VC investing, combined with its parent’s global reach, VTAC should be well positioned to find a suitable target, in our view.
In this tear sheet, we will talk about the deal background and structure.
Vertex Technology Acquisition Corporation Ltd
Vertex Technology Acquisition Corporation Ltd (VTAC) aims to raise around US$126m via Singapore’s first SPAC listing.VTAC is sponsored by Vertex Venture Holdings (VVH), a wholly owned subsidiary of Temasek. The deal is already substantially covered by the 13 cornerstones having taken up 65% of the entire deal. As per media reports, the rest of the shares have been spoken for as well.
With VVH’s background in VC investing, combined with its parent’s global reach, VTAC should be well positioned to find a suitable target, in our view.
In this tear sheet, we will talk about the deal background and structure.
Underlying
VERTEX TECHNOLOGY ACQUISITION Corporation Ltd
Provider
Aequitas Research
Aequitas Research is a leading ECM research firm with a focus on IPOs and placements/follow-on offerings across the Asia Pacific with deal size of over USD100m.
Since 2015, we have covered 400+ IPOs and 450+ placements with a hit rate of 73% and 65%, respectively. We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic analysis.
Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis. We also provide a more quant driven analysis on placement/follow-on offerings.
Markets that we cover include:
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
Sumeet Singh
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