Matrix Capacity sustains appetite for SPACs

THE appetite for special purpose acquisition companies (SPAC) would appear insatiable. Hopeful of a listing by year-end on Bursa Malaysia is Matrix Capacity Petroleum Bhd, which again, is in the oil and gas sector.

Matrix will be the largest SPAC hopeful of a listing as it is looking to raise US$350mil (RM1.09bil) from the listing exercise. The board of directors comprise of four members so far, two which are well known Malaysian corporates - Asgari Mohd Fuad Stephens of Mudajaya Group Bhd fame, and Tan Sri Syed Anwar Jamalullail, who is presently chairman of Cahya Mata Sarawak Bhd.