SINGAPORE (Reuters) – A special purpose acquisition company (SPAC) backed by French asset management group Tikehau Capital and a holding company of the family of Bernard Arnault, the CEO of LVMH, made its debut on the Singapore Stock Exchange on Friday. , becoming the second-highest-rated SPAC in the city-state.
SGX, the operator of the Singapore Stock Exchange, was last September the first Asian stock market operator to authorize SPAC listings since the craze for this type of Wall Street financial vehicle in early 2021. It has relaxed rules judged until then too rigid by market players.
The IPO of Pegasus Asia, which raised 170 million Singapore dollars (about 111 million euros), comes in the crowd of that of Vertex Technology Acquisition, a SPAC backed by a financial group owned by the sovereign wealth fund of Singapore, Temasek.
Pegasus Asia was trading around its IPO price of $5 per share.
(Report Anshuman Daga; French version Jean Terzian)