Mon. Oct 26th, 2020

SINGAPORE– Bahrain-based multi-fund possession management firm ASMA Capital Partners has actually declared a $200 million IPO on Nasdaq of Global SPAC Partners, which will seek acquisitions in the Middle East, North Africa (MENA), and South and Southeast Asia.ASMA Capital’s

shareholders include the Islamic Advancement Bank of the Kingdom of Saudi Arabia, Saudi Arabia’s Public Pension Firm, Saudi Arabia’s Public Mutual fund, Bahrain’s Ministry of Finance and Brunei’s Ministry of Finance.ASMA Capital’s IDB

Fund II has$750 million of committed capital and prepares to invest in power and energy, transport and logistics, telecom infrastructure, water and waste, and education and healthcare.A special purpose acquisition company is a company without operations which is formed just to raise capital to obtain other services. SPACs are likewise called blank check companies.The SPAC isn’t limited by market, but its directors are most likely to use their”significant experience”to purchase sectors with “reasonably secure and predictable returns,” such as infrastructure and energies, according to the prospectus filed to the U.S. Securities and Exchange Commission on Tuesday.

“We will think about business in a wide variety of industries, but normally will seek to obtain an easy, top quality organization that produces predictable money streams that can be approximated within a reasonable variety over the long term,” the prospectus states. “We will choose targets that have low sensitivity to macroeconomic factors, with minimal commodity exposure and/or cyclical danger.”

The proposed maximum deal price is $10 a share; the offering will have 230 million systems if the overallotment option is exercised.Glazer Capital, Sea Otter Securities Group and Mint Tower Capital Management will be anchor investors and have revealed interest in acquiring$50 million worth of shares, or $57.5 million if the overallotment option is exercised.Bryant B. Edwards, the SPAC’s CEO, was previously the chief running officer of Twelve Seas, a Nasdaq-listed SPAC that raised$207 million in 2018 and got UAE-based oil services gamer Brooge Energy in 2019, the prospectus says.Abu Bakar Chowdhury, who has actually been a managing director and the CFO of ASMA Capital

given that 2013, will be chairman of International SPAC Partners, the prospectus says.For the original story from DealStreetAsia, click on this link. DealStreetAsia is a financial news website based

in Singapore that concentrates on personal equity , venture capital and

corporate investment activity in Asia, specifically Southeast Asia, India and Greater China. Nikkei owns a bulk stake in the business.

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