SPAC Bridgetown slumps after report Traveloka halts deal talks

MoneyHero

07/09/2021 12:02

** Blank-check firm Bridgetown Holdings Ltd  BTWN.O  tumbles
~19% to $6.39 premarket, its lowest since market debut in
December 2020
    ** Indonesian travel app Traveloka has halted plans to go
public via deal with Bridgetown, which is backed by billionaires
Richard Li and Peter Thiel, Bloomberg News reports, citing
people familiar with the matter  urn:newsml:reuters.com:*:nL4N2Q82CD
    ** BTWN posts the biggest pct decline among all U.S.-listed
stocks in trading before the bell
    ** A report in April said BTWN is in advanced talks with the
Indonesian startup to take it public through a reverse merger
that could value the company at about $5 bln  urn:newsml:reuters.com:*:nL4N2M22SX
    ** Stock rose as much as $18.93 in December last year after
IPO, but has nearly halved in value since then

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))