Pegasus Asia, Tikehau Capital-backed SPAC, debuts in Singapore

FILE PHOTO: A man wearing a protective face mask walks past the Singapore Exchange (SGX) which stays open during "circuit breaker" measures to curb coronavirus COVID-19) in central business district area in Singapore, April 7, 2020. REUTERS/Edgar Su

SINGAPORE (Reuters) - A special purpose acquisition company (SPAC), backed by European asset manager Tikehau Capital and a holding firm of LVMH Chairman Bernard Arnault, started trading in Singapore on Friday, the second SPAC to debut in the city-state.

The twin listings also mark the first major debut of such vehicles in Asia since a SPAC frenzy in the United States in early 2021 prior to regulatory change there dampening investor sentiment.