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Spac arrival in Singapore is sweetly timed

Nirgunan Tiruchelvam
Nirgunan Tiruchelvam1/13/2022 5:53 PM GMT+08  • 4 min read
Spac arrival in Singapore is sweetly timed
The tech rout means that the unlisted opportunities the spacs are seeking are cheaper.
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Long cotton shorts were a hit in America in the early 1990s. It was ideal for summer wear. The cotton fabric kept people cool. The deep pockets provided ample space for wallets, sunglasses and keys. Cell phones were much bigger in those days.

After a few years, long shorts spread to Singapore. People ditched sports shorts and silk pants. Both young and old adopted American fashion. Long shorts were ideal for Singapore’s sweltering heat and informal manner.

These days, fashion spreads even quicker. Special purpose acquisition companies (spacs) were a rage on the Nasdaq last year. In 2021 alone, more than US$120 billion ($162.15 billion) have been raised by spacs. That is more than the IPO proceeds for 2021.

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