China's Big Tree enters $500 mln SPAC deal for US listing

Kingsoft Cloud Holdings

11/10/2023 02:26

Oct 10 (Reuters) - Plutonian Acquisition Corp  PLTNU.O 
said Chinese personal care products company Big Tree Cloud had
signed a merger agreement with the U.S. special purpose
acquisition company, with the deal reflecting an equity value of
about $500 million.
    After the completion of the merger, the Big Tree Cloud would
be operated under a holding entity named Big Tree Cloud Holdings
Ltd, and will be listed on the Nasdaq Stock Market, Plutonian
said in a statement on Tuesday.
    The transaction will be valued at a price of $10 per share.

 (Reporting by Rishabh Jaiswal in Bengaluru; Editing by Rashmi
Aich)
 ((rishabh.jaiswal@thomsonreuters.com;))