Stake changes: Vertex Technology Acquisition Corp, Pegasus Asia

Singapore one-dollar bill, showing satellite dishSingapore one-dollar bill, showing satellite dish

Singapore substantial shareholder changes: Vertex Technology Acquisition Corp. (VTAC) and Pegasus Asia. 

Vertex Technology Acquisition Corp. (VTAC), Morgan Stanley and Mitsubishi UFJ Financial

Morgan Stanley saw its deemed interest in Vertex Technology Acquisition Corp. (VTAC) fall to 5 percent, or 2 million units, from 8 percent, or 3.2 million units, previously after a decrease in units over which the investment bank may exercise the right to rehypothecate or dispose of, according to a filing to SGX Friday. No consideration was paid or received in the transaction. 

Mitsubishi UFJ Financial Group (MUFG) holds more than 20 percent of Morgan Stanley and is deemed interested in the units, according to a separate filing. 

Pegasus Asia and UBS

UBS AG acquired 26,400 units of Pegasus Asia at S$4.87 each, or S$128,498, in a market transaction on 15 February, taking the Swiss bank’s total interest to 9.07 percent from 8.99 percent previously, according to a filing to SGX Friday. 

Pegasus Asia and Neil Parekh

Neil Parekh, CEO and non-independent director at Pegasus Asia, acquired 3,000 units of the special purpose acquisition company (SPAC) in the market on 17 February for S$14,640, taking his total interest to 23,000 units, or a 0.08 percent interest, up from 0.07 percent previously, according to a filing to SGX Friday. 

Parekh is also partner and head of Asia, Australia and New Zealand at Tikehau Capital, the sponsor of Pegasus Asia.

Pegasus Asia, Morgan Stanley and Mitsubishi UFJ Financial

Mitsubishi UFJ Financial Group saw its deemed interest in Pegasus Asia fall to 2.298 percent, or 700,000 units, from 5.581 percent, or 1.7 million units, previously after Morgan Stanley ceased to be deemed interested in 1 million units over which it can no longer exercise a right to rehypothecate or dispose of, according to a filing to SGX Friday.  

No consideration was paid or received in the transaction, the filing said.

Mitsubishi UFJ Financial Group (MUFG) holds more than 20 percent of Morgan Stanley and is therefore deemed interested in the units, the filing said.