Investment manager Tikehau Capital SCA is planning to raise as much as $300 million by listing a special purpose acquisition company in Singapore, according to people familiar with the matter, joining firms jostling to take advantage of the city-state’s new listing framework.

The European alternative asset manager is in the advanced stages of its preparations and is in the running to be among the first in Singapore to file for an initial public offering of a blank-check firm, the people said, asking not to be identified as the information is private. Tikehau is seeking to raise between $250 million and $300 million in the IPO, the people said.

Tikehau has not identified a specific target sector for its prospective SPAC firm, one of the people said.

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