Tikehau Capital Said to Get Nod for SPAC Listing in Singapore
(Bloomberg) -- European asset manager Tikehau Capital SCA has received an eligibility-to-list letter from the Singapore exchange for its blank-check company, according to a person familiar with the matter.
The firm, together with partner Financière Agache -- the family office of LVMH chairman Bernard Arnault -- has incorporated a special purpose acquisition company called Pegasus Asia, the person said. The sponsor group will invest S$62 million ($46 million) in the vehicle and is seeking to raise at least S$150 million in the initial public offering, the person added.
Tikehau’s approval, which was reported by the Edge earlier on Thursday, follows that for Temasek Holdings Pte-backed Vertex Venture Holdings Ltd., which got the ETL letter on Dec. 24. The firms are among the first wave of sponsors looking to list blank-check companies in the city-state after it rolled out a framework in September.
Tikehau has experience launching SPACs, recently raising EU210 million ($238 million) for Pegasus Entrepreneurs in Europe. It has also worked with ex-UniCredit SpA Chief Executive Officer Jean Pierre Mustier and Arnault to list Pegasus Acquisition Co. Europe BV, one of the region’s biggest blank-check companies, in Amsterdam.
A spokesperson for Singapore Exchange Ltd. declined to comment on whether Tikehau obtained the approval.
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