Novo Tellus Alpha Acquisition opens at $5 in SGX debut

It’s the third SPAC to be listed on the mainboard.

Units of Novo Tellus Alpha Acquisition (NTAA) opened at $5 in its trading debut at the Singapore Exchange (SGX) mainboard.

The Special Purpose Acquisition Company (SPAC) has 500,00 publicly offered units on the SGX.

SGX, for its part, welcome the listing of its third SPAC, following Pegasus and Vertex.

NTAA is backed by Novo Tellus Capital Partners, a private equity firm focused on the technology and industrial sector in the Indo-Pacific region.

“NTAA will focus on undertaking its initial business combination in the target sector in the Indo-Pacific region, where the sponsor group has built its investment track record,” the SGX said.