Shares in the spac spiked 10 cents or 1.98% higher at $5.15 after the market opened on Feb 2.
The aggregate redemption amount on shares paid to eligible shareholders will be rounded down to the nearest 1 cent.
The redemption and payment is expected to be made on or about Feb 21.
The last day of trading of NTAA’s shares is on Feb 8; trading of the shares will be suspended at 9am on Feb 9. NTAA will then be delisted on Feb 22.
See also: Hong Kong's first de-spac listing still leaves sector in limbo
On Jan 11, NTAA said that it will not be concluding a business confirmation ahead of its Jan 26 deadline. The Edge Singapore had reported, on Dec 20, 2023, that the spac was not looking to merge with any target companies, a report that NTAA denied at the time.
According to CEO Loke Wai San, the move to dissolve the spac comes after careful consideration and a thorough evaluation of potential targets among other factors.
As at 4.44pm, shares in NTAA are trading 10 cents higher or 1.98% up at $5.15
