Pegasus Asia, the spac of sponsor group Tikehau Capital, Financière Agache, Diego De Giorgi and Jean-Pierre Mustier has seen its public offer of 600,000 units 7.8 times subscribed as balloting closed on Jan 19.
In a filing, the spac said its international offering of 25 million placement units was "oversubscribed", without quantifying the level of demand.
In contrast, the public tranche of Vertex Technology Acquisition Corp, the spac launched on the same day as Pegasus Asia, was 36 times subscribed, while its placement tranche was 8.8 times subscribed.
The offering price for each unit is $5, comprising one share and half of one public warrant.
Trading will commence at 9am on January 21 on the Mainboard of the Singapore Exchange.
The public offer received 1,108 valid applications for 4.68 million units. There were a total of 600 successful applications in the Singapore public offer.
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Tikehau is an alternative asset management group with 30.9 billion euros of assets under management as at June 30, 2021, while Financière Agache is a holding company controlled by Agache, the Arnault family holding company, holding a direct 96% ownership in Christian Dior, the controlling shareholder of world’s leading luxury products group LVMH.
Last year, the sponsor group raised about 700 million euros via two spacs, namely Pegasus Europe, which was among the largest European spacs with 483.6 million euros raised; as well as Pegasus Entrepreneurs, which raised 210 million euros including an upsized portion of 10 million euros following strong investor demand.
Photo: Albert Chua/The Edge Singapore
