- Briefing Your roundup of Asian tech and startup news that matter
Collin Furtado · · 1 min readIndonesian travel startup Tiket to go public next year, CEO says
Update (Oct. 29, 10:00 a.m. SGT): This article was updated to include a recent statement from Tiket’s CEO.
“Tiket.com chief executive officer George Hendrata said his online travel startup is considering going public through a US$2 billion merger with a special purpose acquisition company (SPAC),” reported Bloomberg.
Details:
- The Indonesian travel startup is also exploring other options, such as a traditional initial public offering as well as a potential merger with a Southeast Asian super app.
- Should the company decide to go public, Hendrata previously said that it would be within this year. However, in a recent interview, he shared that Tiket will go public next year as it’s “getting closer” to completing the process.
- In May, the CEO said that the SPAC option would be quicker, whereas the traditional route will take a year or two.
Context:
- It was reported by Bloomberg in May that Tiket was in talks with blank-check company Cova Acquisition for a merger deal that could value the combined entity at US$2 billion.
- As part of the deal, the Jakarta-based travel startup would raise US$200 million in private investment in public equity.
Editing by September Grace Mahino and Lorenzo Kyle Subido
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
