SG briefs: VTAC, Vertex Venture, iFAST, Meta Health, Raffles Infrastructure

Singapore one-dollar bill, showing satellite dishSingapore one-dollar bill, showing satellite dish

Singapore company briefs on Monday, 17 January 2022: Vertex Technology Acquisition Corp., or VTAC, Vertex Venture Holdings, iFAST Corp., Metal Component Engineering, Meta Health, and Raffles Infrastructure Holdings. 

Vertex Technology Acquisition Corp.

Vertex Technology Acquisition Corp., or VTAC, which is set to become the first special purpose acquisition company (SPAC) to list in Singapore, said Monday it has chosen to invest its escrowed funds in Singapore Government Securities bonds, Singapore Government Securities treasury bills and bills issued by the Monetary Authority of Singapore, VTAC said in a filing to SGX Monday.

A SPAC must hold its escrowed funds in cash or cash-equivalent short-dated securities until the completion of a business combination, VTAC noted.

Read more: Vertex Venture files to list Singapore’s first SPAC to raise S$200M

Vertex Venture Holdings

Vertex Venture Holdings said Monday it has received around US$69.8 million, or around 5.2 percent of its net asset value for 2020, from its underlying captive funds — or funds it wholly owns — and from its network funds — or funds where its subsidiaries are the anchor investor and also raised funding from external investors.

The distributions and divestment proceeds are mainly from the funds’ portfolio companies, Vertex Venture said in a filing to SGX.

iFAST Corp.

Wealth management platform iFAST Corp. said Monday the company has issued 14 million new placement shares, which were issued at S$7.50 each, and they will begin trading on Tuesday.

Read more: iFAST raises S$105M in over-subscribed share placement

Metal Component Engineering and Meta Health

Metal Component Engineering Ltd. has changed its name to Meta Health after the name change and the diversification into healthcare and e-commerce was approved by shareholders at an extraordinary general meeting (EGM), the company said in a filing to SGX Monday.

The trading counter name change will take effect on 20 January, the filing said.

Read more: Metal Component Engineering to change name on shift to healthcare sector

Raffles Infrastructure Holdings

Raffles Infrastructure Holdings said Monday that as part of its corporate governance initiative, it has appointed Hong Leong Finance to assist the company with its listing obligations.

“The board is confident that with the guidance from HLF, the company shall continue its ongoing efforts to strengthen and enhance its corporate governance to ensure compliance with all regulations,” Raffles Infrastructure said in a filing to SGX.

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