Tikehau Capital wins nod for SGX SPAC listing

EUROPEAN asset manager Tikehau Capital, together with its partner Financiere Agache, has received an eligibility-to-list (ETL) letter from the Singapore Exchange (SGX) for their special purpose acquisition company (SPAC).

The sponsor group received the ETL from SGX on Wednesday (Dec 29), and the sponsor group has also incorporated a company, Pegasus Asia, as a SPAC, according to people familiar with the matter.

Tikehau Capital and Financiere Agache plan to invest S$62 million in the SPAC through the subscription of units and through an unconditional forward purchase agreement. This is in addition to the sponsor's initial contribution of up to S$10 million of "at-risk" capital by purchasing warrants in the private placement.