L Catterton Asia rises on plan to take Lotus Tech public

Lotus Technology

31/01/2023 18:07

** Shares of blank-check firm L Catterton Asia Acquisition
Corp  LCAA.O  up 1.9% at $10.34
    ** LCAA to take luxury EV maker Lotus Tech public in a deal
valuing combined co at $5.4 bln  urn:newsml:reuters.com:*:nL1N34G153
    ** Combined co will retain name "Lotus Technology Inc", and
is expected to be listed on Nasdaq under the symbol "LOT"
   ** Lotus Tech's existing shareholders, including Chinese
automaker Geely Holdings, Malaysia's Etika Automotive, and Nio's
investment firm  9866.HK , will own 89.7% of combined co
    ** Delivery of Lotus Tech's first fully electric hyper SUV,
Eletre,  expected to begin in China in Q1, and in the UK and EU
later this year
    ** LCAA rose 3.8% last year
 (Reporting by Rupali Chaudhary in Bengaluru)
 ((Rupali.chaudhary@thomsonreuters.com))