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Singapore poised to beat rival Hong Kong in listing first SPACs

Temasek-owned Vertex and Novo Tellus file for 'blank check' IPOs

With SPACs on the way, Singapore could draw the attention of investors looking for new opportunities in fast-growing Southeast Asia. (Photo by Akira Kodaka) 

SINGAPORE -- The Singapore stock exchange is poised to list its first special purpose acquisition company as early as next week, which could put it ahead of rival Hong Kong in welcoming the popular new form of fundraising.

Two sponsor companies on Thursday announced they had filed prospectuses for initial public offerings of their SPACs, the first such filings in the city. The financial hub is keen to follow in the footsteps of the U.S., which has seen a flood of SPAC listings during the course of the COVID-19 pandemic.

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