Blueport Acquisition Shares Flat After $1.2 Billion SingAuto Deal Announced
Blueport Acquisition Ltd was unchanged at $10.07 on Wednesday. The Nasdaq SPAC stuck close to its $10 listing price as traders looked for more filings on its planned tie-up with Singapore’s SingAuto Inc. Shares moved in a tight range, changing hands between $10.07 and $10.09 in the June 3 session, according to Google Finance. Blueport hasn’t moved much, which is important because it’s still just a SPAC. The company is a listed cash shell created to merge with a private firm and list it. It’s not running as a normal operating business yet.