Deals
Malaysia’s Hibiscus Explores Singapore SPAC Listing
- SPAC listing by Hibiscus could raise as much as S$200 million
- The blank-check company will focus on renewable energy
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Hibiscus Petroleum Bhd. is considering listing a special purpose acquisition company in Singapore that could raise as much as S$200 million ($147 million), according to people familiar with the matter.
The Malaysian independent oil and gas explorer has held talks with potential advisers on the potential SPAC initial public offering, said the people, who asked not to be identified as the information is confidential. The blank-check company, which could raise S$150 million to S$200 million, will look for acquisition targets in the renewable energy sector, the people said.