Singapore’s 1st acquisition of a target company by a SPAC transaction – 17LIVE’s approximately S$923 million business combination with Vertex Technology Acquisition Corporation Ltd, and the listing of the resulting issuer 17LIVE Group Limited on the Singapore Exchange.

Advised 17LIVE in respect of (a) its business combination with Vertex Technology Acquisition Corporation Ltd (“VTAC“), which valued 17LIVE and its subsidiaries (“17LIVE Group“) at approximately S$922.9 million, and (b) the listing of the resulting issuer, 17LIVE Group Limited, on the SGX-ST, following completion of the business combination. The transaction is the first transaction in Singapore involving the acquisition of a target company by a SPAC since the SPAC framework was introduced by the SGX-ST with effect from 3 September 2021. This transaction won M&A Deal of the Year at the ALB SE Asia Law Awards 2024 and was also shortlisted as a finalist for the Deal of the Year: M&A at the IFLR Asia Pacific Awards 2024. Partners Raymond Tong, Brian Ng, Jasselyn Seet and Goh Junyi from the Capital Markets / Mergers & Acquisitions Practice, alongside Partner Benjamin Cheong from the Technology, Media & Telecommunications Practice led the transaction.