Tikehau Capital’s SPAC raises $120m in Singapore IPO

Tikehau Capital’s SPAC raises $120m in Singapore IPO

A man checks his phone at the entrance of the Singapore Exchange Ltd. (SGX) headquarters in Singapore. Photographer: Ore Huiying/Bloomberg

Pegasus Asia, the special purpose acquisition company (SPAC) of French asset management group Tikehau Capital, has announced raising S$170 million ($120 million) in its initial public offering (IPO) in Singapore, exceeding its $110 million target.

The SPAC offered the full size of 29.6 million units due to strong investor demand from global international funds, institutional investors, family offices, and retail investors, as per the announcement. The offering comprised 29 million units for international investors and 600,000 for Singapore investors.

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