THE mainboard listing of live-streaming platform operator 17Live Group, following its business combination with Vertex Technology Acquisition Corp (VTAC), came with much fanfare.

The listing – two years after the special purpose acquisition company (Spac) framework was launched in Singapore – brought to the market a “new economy” company that investors have long lamented was missing from the local bourse.

Instead of being well-received by investors, however, 17Live shares have been on a steady slide. The counter has now plunged to around a third of what investors paid per share at VTAC’s initial public offering (IPO).