SPAC's Popularity on the Rise Amid Digital Company IPO

By Editorial Team 20/05/2021
skema IPO SPAC
Summary

Several digital companies are preparing to hold an initial public offering (IPO) overseas through a merger with a special purpose acquisition company (SPAC). After Traveloka, now Kredivo and Tiket.com are announcing the IPO plan.

Tiket.com is in talks with US-based SPAC COVA Acquisition Corp, Bloomberg reported. The company's valuation from the merger would reach US$2 billion before the IPO. Tiket.com is estimated to raise US$200 million or roughly Rp 2.8 trillion through the Private Investment in Public Equity (PIPE) scheme.

Meanwhile, Kredivo explores the possibility of an IPO through a merger with SPAC owned by a US investment company, Victory Park Capital. However, Kredivo is still considering other options and may scrap the merger option.

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