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Novo Tellus plays up SGX experience for its spac's success

Samantha Chiew & Lim Hui Jie
Samantha Chiew & Lim Hui Jie1/20/2022 04:24 PM GMT+08  • 7 min read
Novo Tellus plays up SGX experience for its spac's success
Novo Tellus, which will sponsor the third SPAC here, brings a more "long-term" approach to the table, says co-founder Loke Wai San
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Right after Singapore Exchange (SGX) announced the new framework for special purpose acquisition company (spac) listings last September, co-found­er and managing partner of Singapore based private equity firm Novo Tellus Capital Partners Loke Wai San was among the first to express interest.

Novo Tellus Alpha Acquisition (NTAA), the spac sponsored by Novo Tellus, lodged its pre­liminary prospectus on Jan 20. The goal for the latter: To raise $150 million, based on the offer price of $5 and the post-initial public offer (IPO) share capital of 30 million shares.

This comes on the back of Vertex Technolo­gies Acquisition Corp (VTAC) and Pegasus Asia filing their prospectus on Jan 13.

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