Malaysia's Capital A finalises deal to list brand management unit in U.S. via merger (updated)

Aetherium Acquisition

28/02/2024 11:42

(Adds details paragraph 2 onwards)
       KUALA LUMPUR, Feb 28 (Reuters) - Malaysia's Capital A
 CAPI.KL  on Wednesday said it has finalised a $1.15 billion
deal to list its brand management unit, Capital A International
(CAPI), on the Nasdaq via a merger with a SPAC called Aetherium
Acquisition Corp  GMFI.O .
    A SPAC (special purpose acquisition company), or blank-check
firm, is a publicly listed shell company that raises funds to
merge with a private company.
    The listing, first announced last year, will allow CAPI to
access the world's most extensive and liquid capital markets,
and enhance Capital A's international credibility and presence,
Group Chief Executive Tony Fernandes said in a statement.
    "We are optimistic about the potential for our brand
business to expand well beyond our origins, particularly in
markets where intellectual property and brand value are highly
esteemed by consumers and investors," he said.
    The transaction gives CAPI an estimated pro forma enterprise
value of $1.15 billion, according to the statement.             
   
    The deal sees Capital A joining a growing number of
Southeast Asian companies seeking to list in the United States
to fill a void left by Chinese companies that have paused U.S.
IPOs amid political tensions with Washington. 

 (Reporting by Danial Azhar; Editing by Martin Petty)
 ((danial.azhar@thomsonreuters.com ; Twitter: https://twitter.com/dan_azh
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