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Tikehau Capital-backed SPAC, Pegasus Asia, raises S$170 million in IPO

Date: January 22, 2022 Sunil Jha Sunil Jha
Tikehau Capital-backed SPAC, Pegasus Asia, raises S$170 million in IPO 
Tikehau Capital, a capital market company, has recently announced that Pegasus Asia has raised S$170 million in its IPO (initial public offering). Pegasus Asia is Tikehau Capital’s first SPAC listed in Singapore and its third sponsored SPAC globally.



The gross proceeds of S$170 million recently raised from the IPO include a total investment of S$22 million from the sponsors that show a strong alignment of interests with the shareholders.



Similar to Pegasus Entrepreneurs and Pegasus Europe, the asset management group launched Pegasus Asia alongside co-sponsors namely Diego De Giorgi, Jean-Pierre Mustier, and Financière Agache. These sponsors collectively have extensive resources and a proprietary network to search and evaluate targets.



In addition, the group and its co-sponsors were the only sponsors in Europe to launch two European SPACs successfully in 2021. Pegasus Europe, which significantly raised €483.6 million in April, is also one of the largest European SPACs to date. Furthermore, Pegasus Entrepreneurs raises €210 million in December 2021, including an upsize of €10 million due to the strong investor demand.



Pegasus Asia is planning to focus on businesses across the technology-enabled sectors, including digital services, healthcare and medical, insurance-technology, property-technology, financial technology, and consumer technology, primarily in the Asia Pacific.



For the record, Pegasus Asia will start trading on the SGX-ST Mainboard. Also, Tikehau Capital’s head of Australia, Asia, and New Zealand, Neil Parekh, will operate as the CEO of this SPAC.



As per the statement made by Tikehau Capital’s co-founders, Mathieu Chabran and Antoine Flamarion, the company has shown excitement about Pegasus Asia’s recent IPO and its strong investor response.



It is planning to leverage the global network and expertise in capital raising and investing to best identify the SPAC’s target business and drive growth across the technology-enabled sector, they added. It also appreciates the Singapore Exchange and the Monetary Authority of Singapore for welcoming the first SPAC in Asia.



Source credit:



https://www.businesswire.com/news/home/20220120006060/en/Pegasus-Asia-Tikehau-Capital%E2%80%99s-Third-Sponsored-SPAC1-and-First-SPAC-Backed-by-International-Sponsors-to-be-Listed-on-the-Singapore-Exchange-Securities-Trading-Limited-SGX-ST-Raises-S170-Million

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Sunil Jha

Sunil Jha has been a part of the content industry for close to two years. Having previously worked as a voice over artist and sportswriter, he now focuses on writing articles for newsorigins.com, across a slew of topics, ranging from technology to trade and finance. With a business-oriented educational background, Sunil brings forth the expertise of deep-dive research and a strategic approach in his write ups.