Yahoo Finance Novo Tellus Alpha Acquisition opens at $5, ends debut trading day at $4.86
It closed the day at $4.86
Units in Novo Tellus Alpha Acquisition (NTAA) spac opened at $5 on its first day of trading on the Singapore Exchange (SGX), flat from its offering price.
However, it ended the day at $4.86.
The spac, which is backed by Novo Tellus Capital Partners, registered its IPO on Jan 20 and offered 10 million offer units at $5 apiece.
On Jan 26, NTAA announced that its initial public offering (IPO) was 3.4 times subscribed; its local public offer of 500,000 units was around 7.6 times subscribed, while its international offering of 9.5 million units was 3.1 times subscribed at the close of 12 noon on Jan 25.
NTAA trades under the stock code “NTU”. It is the third of the spacs listed on the SGX this year, after Vertex and Pegasus.
The spac will target companies in the technology and industrials sectors in the Indo-Pacific region. They will focus on critical technology and macro-growth shifts with multi-year tailwinds.
Loke Wai San, executive chairman and CEO, NTAA says he is grateful for the strong support from our cornerstone, institutional and retail investors for Novo Tellus Alpha Acquisition’s initial public offering.
"This is testament to Novo Tellus’ strong track record on the SGX securities market, which is underpinned by an ethos of doing right by all stakeholders, and investing only in quality companies where we know we can build value. We look forward to doing the same with our SPAC investors," adds Loke.
Pol de Win, SGX's senior managing director, head of global sales and origination, welcomes NTAA to the exchange's new spac family.
"With years of experience investing successfully in technology and industrials companies, the sponsor group has generated strong equity growth and returns on SGX over the last decade via its investments in SGXlisted companies such as AEM Holdings, Grand Venture Technology and ISDN Holdings," he says.
"The sponsor group’s established track record and reputation for building equity value and long-term, institutional investor support for its portfolio companies provide investors with confidence in this SPAC offering," adds de Win.
Photo: Albert Chua/The Edge Singapore
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