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A banker familiar with the listing process of Aztech says that the technology sector continues to draw the interest of investors from the region and even globally. TECHNOLOGY stocks may be taking a breather but that does not seem to be stopping a decent flow of new listings from this sector. Yesterday, a company that makes Internet of Things (IoT)-based products got listed on the Singapore Stock Exchange with a market value of just under S$1bil (RM3.7bil). The Singapore firm, with one of its operations in Johor, had attracted some Malaysian funds as cornerstone investors. These included the likes of the Employees Provident Fund, Affin Hwang Asset Management and Hong Long Assurance. ....
Former banker Ian Yoong who was a promoter of Red Sena and one of its directors, says he understands that there are a number of parties looking to list SPACs on Bursa Malaysia. Like most of the recently listed SPACs in the US, these promoters are looking to have a technology focused SPAC. SPECIAL purpose acquisition companies or SPACs have become a hot trend on Wall Street. The amount of money raised by SPACs in the past 12 months has topped US$120bil, going by Bloomberg data. The fever is spreading closer to home. Indonesia’s Gojek and Tokopedia are considering floating SPACs in the US, instead of taking an initial public offering route. ....