AEI CapForce II Investment, a blank check company targeting "new economy" sectors in the Southeast Asia and APAC regions, withdrew its plans for an initial public offering on Thursday. It had filed in September 2021 to raise $100 million by offering 10 million units at $10, with each unit containing one share of common stock and one warrant.
The company was set to be led by CEO and Chairman John Tan, the CEO of AEI Capital Group, where he leads the APAC-focused private equity investment group. The company had planned to target businesses in Greater China or Southeast Asia in the “new economy,” focusing on the financial technology and the financial services and technology industries that offer a differentiated technology platform or product for interfacing with the financial services sector.
The Kuala Lumpur, Malaysia-based company was founded in 2021 and had planned to list on the Nasdaq under the symbol AEIBU. EF Hutton was set to be the sole bookrunner on the deal.
