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Investments
6 Months Ended
Jun. 30, 2023
Investments  
Investments

15.Investments

    

30 June

    

31 December

    

1 January

US$ thousand

2023

2022

2022

Marketable securities held in trust account

 

 

268,909

 

265,156

 

 

268,909

 

265,156

15.Investments (continued)

Marketable securities represent the net proceeds from the Company’s initial public offering (“IPO”) held prior to initial Business Combination. These funds were held in a trust account and were invested only in U.S. government treasury obligations with a maturity of 185 days or less or in money market funds meeting certain conditions under the Investment Company Act. Upon completion of the initial Business Combination, these funds were released to the public shareholders of Class A ordinary shares who elected to redeem their Class A ordinary shares, subject to certain limitations.