Blueport Acquisition Shares Flat After $1.2 Billion SingAuto Deal Announced
Blueport Acquisition Ltd closed unchanged at $10.07 on Wednesday, trading in a narrow band as investors awaited updates on its planned $1.2 billion merger with Singapore’s SingAuto Inc. The SPAC holds $58.3 million in trust and reported no operating revenue, with all income from interest. The merger, announced May 1, would give SingAuto shareholders 120 million shares if approved. Blueport’s shares remain anchored near their cash-in-trust value.