Traveloka, an Indonesian unicorn firm has shown its intent to go public through its merger with Bridgetown Holdings Limited (NASDAQ: BTWN). After the execution of this deal, Traveloka would become the first Southeast Asian Unicorns firm to go public via a special purpose acquisition company or SPAC.
Sources disclosed that the deal could price online travel leaders at about $5 billion. The possible deal could also include boosting between $500 million and $750 million via a private investment in public equity, or PIPE. The value of the firm has not been confirmed yet. There are chances that the details involving the amount that will be elevated might change as the firm commence negotiations with prospective investors.
Furthermore, the sources disclosed that Traveloka was earlier priced at $2.75 billion. Moreover, BTWN increase around $595 million in a U.S. IPO in October. Its shares soared more than 13% on Thursday to $12.11. Bridgetown Holdings is a blank-check company supported by billionaires Richard Li and Peter Thiel.
Since its inception ins 2012, the unicorn firm has made it easy for clients to book flights and hotels across various countries as the firm has improved its reach across six Southeast Asian nations and also includes Australia. The firm has wanted to boost its offering with additional services like other startups in the region. It has expanded its business into finance along with its travel, lifestyle, and accommodation reservation collection.