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Deepti Sri · · 1 min readSerial entrepreneur Patrick Grove mulls listing SPAC in Singapore
“Patrick Grove, an internet entrepreneur, is weighing listing a special purpose acquisition company (SPAC) in Singapore, joining the race to be the first to sponsor blank-check vehicles under the new rules unveiled by the city-state last week,” Bloomberg reported, citing people familiar with the matter.
Details:
- Patrick Grove, the co-founder and CEO of internet company Catcha Group, has reportedly been in talks with the Singapore Exchange (SGX) for the potential listing of a SPAC.
- Mohamed Nasser Ismail, the global head of equity capital markets at the SGX, said the bourse was optimistic about the market’s general response but did not comment on the discussions.
Dive deeper:
- In January, Grove took his blank-check firm named Catcha Investment public in the US to look for opportunities in technology, digital media, fintech, or digital services sectors across the Asia Pacific, with an emphasis on Southeast Asia and Australia.
- Grove’s plans for a SPAC listing come after SGX released a set of new rules, effective from September 3, that eased restrictions on blank-check firms to list on the bourse.
Editing by Miguel Cordon and Arpit Nayak
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