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Vertex Plans Singapore’s First SPAC Merger With Taiwan Firm

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(Bloomberg) -- Singapore-listed Vertex Technology Acquisition Corp. has proposed a merger with Taiwanese live streaming platform 17Live Inc., on track to become the city state’s first blank-check firm to acquire a target.Most Read from BloombergWhy a US Recession Is Still Likely — and Coming SoonOnce Unthinkable Bond Yields Now the New Normal For MarketsCongress Averts US Government Shutdown Hours Before DeadlineAging Trees Show a Crisis Looms for the World’s Everything OilMcCarthy to Face Far-R

-- Singapore-listed Vertex Technology Acquisition Corp. has proposed a merger with Taiwanese live streaming platform 17Live Inc., on track to become the city state’s first blank-check firm to acquire a target.McCarthy to Face Far-Right Attempt to Oust Him as House Speaker

Vertex Tech, which is backed by Vertex Venture Holdings Ltd., raised about S$200 million in its initial public offering in January 2022 in Singapore’s first SPAC since the local stock exchange allowed blank-check companies to list in 2021. Vertex Venture is a subsidiary of Singapore’s state investment firm Temasek Holdings Pte.

Vertex Tech will hold an extraordinary general meeting to approve the transaction in the coming weeks and the completion of the deal is expected in December, Jiang Honghui, its chief executive, said at the same briefing. 17Live is a portfolio company of Vertex Ventures Southeast Asia & India. -- A crude oil pipeline running from Iraq’s Kurdistan region to the Mediterranean coast of Turkey will resume operations this week, Turkish Energy Minister Alparslan Bayraktar said.

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Singapore Blank-Check Firm Vertex Proposes Merger With 17LiveSingapore-listed blank-check company Vertex Technology Acquisition Corp. has proposed a merger with Taiwanese live streaming platform 17Live Inc., in what would be the first such deal in the city state.
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