SINGAPORE, Jan 23 (Bloomberg): A lacklustre market debut for the first two blank-check companies to list in Singapore is raising some questions whether the excitement seen for such vehicles in the US early last year will prevail in Asia.
Vertex Technology Acquisition Corp., sponsored by a unit of state investor Temasek, jumped in early trade on Thursday, but was just 1% higher than its offer price by the end of Friday. Tikehau Capital SCA-backed Pegasus Asia rose 0.4% in its first day of trading on Friday (Jan 21).
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