Red Sena gets green light to close shop

Tan: We do not want them to overpay or buy assets for the sake of doing a deal

KUALA LUMPUR: The last special-purpose acquisition company (SPAC), Red Sena Bhd, has to close shop after receiving an unanimous decision from its shareholders to wind up.

In a meeting yesterday, a total of 641.97 million shares or 100% of the shareholders had voted to wind up and liquidate the company.