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Will Pegasus Asia be Singapore’s first SPAC to make an acquisition?
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What happened?According to Bloomberg, Pegasus Asia is the leading contender to bring Kacific Broadband Satellites to go public via through a special purpose acquisition company (SPAC) merger. You would probably not have heard about Kacific previously, so we thought it might be helpful to give a quick summary of what it does. If you need an introduction to Pegasus Asia, do read our earlier writeup on the SPAC.Kacific is a satellite operator which provides high-speed internet access to governments and businesses across 25 countries in Southeast Asia and the Pacific, based on its website. The company is headquartered in Singapore and wants to bring affordable broadband internet to remote regions of the world. This might be why its main operations is in Vanuatu, a group of islands close to Australia. Here are some other things we found from its website.Lee Hsien Yang sits on its board as a non-executive director. Some of the partners that it has worked with include Singapore’s ST Engineeri...
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