17LIVE, the first entity to go through a de-spac on the Singapore Exchange , ended its trading debut on Dec 8 down 73 cents, or nearly a fifth.
The counter closed at $3.15, down 18.81% from when it was last traded as Vertex Technology Acquisition Corp (VTAC), which acquired 17LIVE.
Nearly two-thirds of previous VTAC's independent shareholders chose to redeem their shares, even though they gave the go-ahead for the acquisition.
When all three spacs were launched for their IPO two years ago, they were all priced at $5 each.
17LIVE offers minor celebrities and other creators the platform to do live-streaming - a kind of company that is unique to the SGX.
The other two spacs, Pergasus Asia and Novo Tellus Alpha Acquisition closed Dec 8 at $4.80, down 0.21% and $4.88, down 0.2% respectively.
Both of these two spacs have yet to announce their business combination targets.
See also: Hong Kong's first de-spac listing still leaves sector in limbo
