INVESTMENT
<strong>Vertex rises on debut</strong>
The first blank-check company to debut in Singapore yesterday rose as much as 5 percent after an offering that attracted strong demand from retail and institutional investors. Vertex Technology Acquisition Corp (VTAC), sponsored by state investor Temasek’s Vertex Venture Holdings Ltd, traded at S$5.25, versus its offering price of S$5 per unit. The special purpose acquisition company’s initial public offering (IPO) is the first for such vehicles in the city-state. It received bids that were 36 times the amount offered for units allocated to retail investors. VTAC raised S$170 million (US$126 million) in the IPO, which can