Pegasus Asia to be delisted after redemption payment on February 13
Pegasus Asia has announced that the final redemption value for its Class A shares is S$5.0274564 per share. According to a January 31 statement, the redemption payment will be made on February 13, or around that date. Following this, Pegasus is set to be delisted from the Singapore Exchange effective at 9am on February 14.
Pegasus Asia was one of the three special purpose acquisition companies (SPACs) to list on the Singapore Exchange in January 2022, alongside Novo Tellus Alpha Acquisition and Vertex Technology Acquisition Corporation. However, in December 2023, Pegasus announced that it would not complete a business combination due to market conditions and would proceed to wind up the company.
After raising S$170 million in its January 2022 initial public offering (IPO), Pegasus is sponsored by European asset manager Tikehau Capital and Financiere Agache, the family office of Bernard Arnault, CEO of luxury goods company LVMH.
In line with regulations, Singapore-listed SPACs have two years to announce a business combination, or a de-SPAC transaction. If no suitable acquisition target is found, they must dissolve and return the funds to investors.
