Between Feb 7 and 9, Pegasus Asia Pegasus SPAC U: PGU -1.41% non-independent director and CEO Neil Parekh acquired 10,000 units of the special purpose acquisition company (SPAC) at an average price of S$4.89 per unit.

 

This took Parekh' s direct interest in the SPAC to 0.02 per cent. Parekh is a partner and head of Asia, Australia & New Zealand at Tikehau Capital.

 

Prior to his current position, Parekh was general manager, Asia, for National Australia Bank where he was responsible for all business, regulatory and governance matters for the bank' s business in the Asia-Pacific Region.

 

He has more than 30 years of global experience in the financial services industry in the Asia-Pacific region, the United States and Europe with senior roles with Bank of America, Societe Generale, DBS Bank and National Australia Bank.

 

Pegasus Asia plans to focus on companies and businesses in technology-enabled sectors, including but not limited to consumer-technology, financial technology, property-technology, insurance-technology, healthcare and medical technology, and digital services, primarily, but not exclusively, in Asia Pacific.

 

Units of Pegasus SPAC will cease to trade and be detached into shares and whole warrants from the 45th calendar day following its listing date (expected to be Mar 7, 2022), where they will begin separate trading.

 

Unit holders will be credited with their respective shares and whole warrants 2 market days later (Mar 9, 2022), thus investors should ensure their securities accounts are credited with the relevant shares and whole warrants to facilitate trade settlement when they trade.

Pegasus Asia

 

On Jan 21, Pegasus Asia, a special purpose acquisition company (SPAC) debuted on SGX, maintaining a market value of S$170 million on the Jan 27 close.

 

It plans to focus on companies and businesses in technology-enabled sectors, including but not limited to consumer-technology, financial technology, property-technology, insurance-technology, healthcare and medical technology, and digital services, primarily, but not exclusively, in Asia-Pacific.

 

Pegasus Asia is sponsored jointly by Tikehau Capital, Financiere Agache, Diego De Giorgi and Jean Pierre Mustier, who collectively maintain an extensive proprietary network and resources to search and evaluate targets.