Latest Rumor: Traveloka to Run IPO via Saratoga's SPAC?

Summary

PT Saratoga Investama Sedaya Tbk's (SRTG) shares skyrocketed at the close of trading on Monday (2/22). The shares rose 7.23 percent to a price level of Rp 6,300 per share.

The share increase in the company owned by billionaires Edwin Soeryadaya and Sandiaga Uno occurred amid news of Traveloka's IPO on the United States (US) stock exchange through SRTG's Special Purpose Acquisition Company (SPAC). SRTG was one of the anchor investors that bought 1 million shares in Provident Acquisition Corp (PAQU). Provident was listed on Nasdaq in January.

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