- Vertex Technology Acquisition Corporation (VTAC), a special purpose acquisition company (SPAC), announced on 2 Oct 23 that it is proposing a business combination with 17LIVE Holding Limited (17LIVE).
- - Read this at SGinvestors.io -
- Shareholders will be required to decide whether to redeem their shares in VTAC by 28 Nov 23. An EGM will thereafter be held on 1 Dec 23 for shareholders to either vote in favour of or against the proposed business combination.
Market leader in live streaming industry in Japan and Taiwan
- - Read this at SGinvestors.io -
- In terms of key operating metrics, as of 1HFY23, monthly active users (MAU) and monthly paying users (MPU) declined 64% and 36%, respectively, compared to peak levels in 2HFY21. 17LIVE attributes these trends to easing social distancing measures post COVID-19.
- Average revenue per spending user (ARPPU) trend was mixed, having declined in Japan since 2HFY21 but rising significantly in Taiwan over the same period.
- Going forward, management will be focusing on higher-quality (paying) users, which could catalyse its profitability, in our view.
Purchase consideration of S$923m is below F&Sās valuation range
- Read more at SGinvestors.io.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
ONG Khang Chuen C CGS-CIMB Research | Andrea CHOONG CGS-CIMB Research | https://www.cgs-cimb.com 2023-11-20
Price targets by other brokers at Vertex SPAC Target Prices.
Listing of research reports at Vertex SPAC Analyst Reports.
Relevant links:
Vertex SPAC Share Price History,
Vertex SPAC Announcements,
Vertex SPAC Dividends & Corporate Actions,
Vertex SPAC News Articles
