Tokopedia undecided on SPAC merger, may opt for

Ark Solutions

16/12/2020 13:13

SINGAPORE Dec 16 (Reuters) - Indonesia's largest e-commerce
Tokopedia said on Wednesday it was not committed to a merger
with a special purpose acquisition company (SPAC) and was
evaluating its market options.
    "We are considering to accelerate our plan to go public and
we appointed Morgan Stanley and Citi to be our advisors," a
Tokopedia spokeswoman said in a statement. "We have not decided
yet which market and method, a SPAC is only a potential option" 
    Reuters reported on Tuesday, that according to a source,
Tokopedia had received a merger approach from blank-check
acquisition firm Bridgetown Holdings Ltd  BTWN.O , but hadn't
decided on whether to pursue a deal.
    Bridgetown, a SPAC backed by Asian tycoon Richard Li and
Silicon Valley billionaire Peter Thiel, raised $595 million in
an upsized U.S. initial public offering in October. It has held
talks with other Southeast Asian companies for prospective SPAC
deals.
    

 (Reporting by Fanny Potkin, editing by Louise Heavens)
 ((f.potkin@thomsonreuters.com;))