In recent times, startups based out of Indonesia have been in considerable focus among investors due to certain developments.
Unicorns based out of Indonesia can now have dual listings in the United States and that has prompted many of those companies to go public through SPAC (special purpose acquisition companies) mergers. That brings us to the subject of Bridgetown Holdings Ltd (NASDAQ: BTWN), which saw its stock soar by as high as 13% on Thursday.
It is a SPAC and the emergence of fresh news about the company has possibly led to the rally in the rally in the stock. A report in a leading financial publication revealed that Bridgetown is considering the possibility of merging with PT Tokopedia, which is backed by SoftBank. The merger has been valued in the $8 billion to $10 billion range. Bridgetown is backed by the pair of billionaires Peter Thiel and Richard Li. It remains to be seen if the stock can continue to record gains today.
Finance and Entertainment Reporter
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