Here are some interesting stock updates for this week. Special purpose acquisition companies (SPACs) SPACs have finally arrived at our shores this week. Vertex Technology Acquisition Corporation (SGX: VTA), or VTAC, and Pegasus Asia (SGX: PGU) made their trading debuts this week, capping off a flurry of applications to be the first few SPACs to list in Singapore. VTAC’s IPO was met with an enthusiastic response from both institutional and retail investors. Its retail offer of 600,000 units was approximately 36 times over-subscribed, attesting to strong demand from the public for this new asset class. VTAC’s international placement was equally well-received, being 8.8 times subscribed. Total gross proceeds raised amounted to S$200 million and units of VTAC closed up 1% on its first day of trading at S$5.05, after hitting as high as S$5.25 during the day. VTAC’s chairman Chua Kee Lock has reiterated that the blank-cheque company’s work doesn’t end even after a merger and de-SPAC, but also involves...