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Tikehau’s S$170 million Pegasus Asia Spac to liquidate due to market conditions

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Raphael Lim
Michelle Zhu

Raphael Lim &

Michelle Zhu

Published Wed, Dec 20, 2023 · 10:41 AM
    • Singapore-listed special purpose acquisition companies have two years to announce their potential business combination, which is also known as a de-Spac transaction.
    • Singapore-listed special purpose acquisition companies have two years to announce their potential business combination, which is also known as a de-Spac transaction. PHOTO: BT FILE

    PEGASUS Asia said it will not conclude a business combination “after considering macroeconomic and market conditions”, partially confirming an earlier media report that stated it was one of two remaining Singapore Exchange (SGX)-listed special purpose acquisition companies (Spacs) to be dissolved.

    In a Wednesday (Dec 20) filing, Pegasus said it would make an announcement in due course on the next steps for shareholders to redeem all of their issued outstanding Class A ordinary shares.

    Following this, the Spac will cease operations and wind up its business.

    Pegasus AsiaNovo Tellus Alpha Acquisition (NTAA)SPAC

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