Ex-UniCredit CEO'S SPAC Seeks $606 Million in Amsterdam IPO

Ex-UniCredit SpA Chief Executive Officer Jean Pierre Mustier's special purpose acquisition company plans to raise as much as 500 million euros ($606 million) when it lists in Amsterdam this month.

Pegasus Acquisition Co. Europe BV, backed by billionaire Bernard Arnault and French asset manager Tikehau Capital, will begin a private placement shortly, with a goal of listing around April 29, the company said Monday in a statement. The company will invest in financial services, including wealth management and insurance, it said.

Mustier is part of a wave of finance executives who are creating blank-check companies as the next act in their careers after leaving top finance jobs. Ex-Commerzbank CEO Martin Blessing listed one in Amsterdam last month, while ex-Credit Suisse Group AG Chief Executive Officer Tidjane Thiam, former Citigroup Inc. banker Michael Klein and ex-Deutsche Bank AG investment banking head Garth Ritchie have already listed such companies in the U.S.

Citigroup Inc. and JPMorgan Chase & Co. are joint global coordinators and joint bookrunners on the initial public offering.