Pegasus Asia launches spac IPO amid 'electrifying' atmosphere

Khairani Afifi Noordin
Khairani Afifi Noordin1/13/2022 7:40 PM GMT+08  • 6 min read
Pegasus Asia launches spac IPO amid 'electrifying' atmosphere
CEO Neil Parekh believes the sponsor group’s experience in issuing spacs has given them a key edge over the competition
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Sponsor group Pegasus Asia, consisting of alternative asset manager Tikehau Capital, Financière Agache — the family office of LVMH Group controlling shareholder Bernard Arnault as well as individuals Diego De Giorgi and Jean-Pierre Mustier, has launched its initial public offering (IPO) and is on track to make a special purpose acquisition company (spac) debut on the Singapore Exchange (SGX) by the end of the month.

The company expects to raise around $128 million by selling 25.6 million units at $5 each, subject to over-allotment. This comprises a placement tranche of 24.6 million units plus one million units for retail investors. Each unit will consist of one share and half of one public warrant.

Pegasus Asia’s independent director and chairman Eleanor Seet believes the timing of the IPO is right. Besides Pegasus Asia, other sponsors confirmed to have impending spac IPOs include Vertex Ventures and Novo Tellus. “The atmosphere is electrifying, coming from a couple of years of a pretty subdued backdrop as well as the latent readiness of the investor base to really embrace this unique access pathway,” says Seet in an interview with The Edge Singapore.

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