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In February of this year, Bloomberg noted that the 2 companies were finalizing terms for a merger. Just recently, media reports indicated that Tokopedia and Gojek, a company that offers on-demand multiservice platforms and digital payment solutions, inked a conditional sales agreement for a merger. However, should the Indonesian firm elect to go public via a reverse merger, rumors suggest that Bridgetown Holdings (NASDAQ: BTWN), a Peter Thiel and Richard Li-backed SPAC, may be interested in facilitating the deal. In December 2020, Tokopedia confirmed that it hired Morgan Stanley (NYSE: MS) and Citigroup (NYSE: C) as IPO advisors. Once combined, the private merger target automatically becomes a publicly-traded company. Instead they undergo an IPO for the sole purpose of identifying a merger target. SPACs are blank check companies that have no operations of their own. Management continues to contemplate which is the best course of action: a traditional IPO or reverse merger via a special purpose acquisition company or SPAC. You won’t find an official date on the IPO calendar just yet. Tired of the same old stock recommendations? The Tokopedia initial public offering ( IPO) promises to be among the most anticipated public debuts.
TOKOPEDIA IPO HOW TO
How to Buy Tokopedia IPO Stock on the Open.President Patrick Cao told KrASIA last year that they would prioritize a local listing while considering a second, yet-undecided location. Tokopedia has been considering an IPO since 2019, without providing a specific timeline. First and foremost, they instantly become a public company, skipping the many hassles of the traditional IPO procedures. Even though these entities have been around for decades, they became increasingly popular this year, in which they already raised USD 70 billion.įor private businesses, merging with a SPAC has several advantages. According to the source, Li is already a minority investor in Tokopedia.īlank-check companies, also known as SPACs, are formed strictly to raise capital through an initial public offering (IPO) for the purpose of acquiring an existing company. The spokesperson added that a special purpose acquisition company (SPAC), like Bridgetown, is “a potential option that we could consider.” According to Bloomberg, a transaction could value Tokopedia as high as USD 10 billion.įounded in September 2020 by billionaire Peter Thiel and Hong Kong tycoon Richard Li, Bridgetown raised USD 550 million in an IPO in October with the intention to invest in “new economy” startups in Southeast Asia. The statement comes after merger rumors with blank-check company Bridgetown Holdings Ltd ( NASDAQ: BTWN) emerged earlier this week.
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“We have not decided yet which market and method, and are still considering options.” “We are considering to accelerate our plan to go public and we have appointed Morgan Stanley and Citi to be our advisors,” a spokesperson told KrASIA on Wednesday. Indonesian e-commerce platform Tokopedia has confirmed that it is working towards an initial public offering.
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The company has appointed Morgan Stanley and Citi as advisors for the IPO process.