Dentons, Eng, Linklaters and Baker act on first SPAC listing in Singapore

Dentons, Eng, Linklaters and Baker act on first SPAC listing in Singapore

Ashok Lalwani led the Baker McKenzie Wong & Leow team

One of Singapore's largest law firms Dentons Rodyk & Davidson and Eng & Co have advised special purpose acquisition company Vertex Technology Acquisition (VTAC) on its $148 million IPO in Singapore.

Linklaters and Baker McKenzie represented the underwriters, global coordinators, and book-runners.

A cross-border Singapore and US team was led by Baker McKenzie Wong & Leow principal Ashok Lalwani. Baker McKenzie partners Steven Canner and Carol Stubblefield supported him. (Baker McKenzie Wong & Leow is the member firm of Baker Mckenzie in Singapore).

This is the first SPAC listing in the city-state since the Singapore Exchange rolled out a new framework allowing blank-check companies to list as a way of boosting the sagging IPO market.

The listing also marks the first major debut of such vehicles in Asia since the frenzy seen in the United States in early 2021.

Meanwhile, Hong Kong has announced that SPAC companies would be allowed to list on its stock exchange.