Sources: Traveloka selects JPMorgan for US IPO through SPAC

Details:

• Traveloka has considered several SPACs, including Provident Acquisition Corp., Cova Acquisition Corp., and Bridgetown Holdings, for the public listing.
• The company was valued at US$3 billion in 2017 and is reportedly eyeing a valuation between US$5 billion and US$6 billion.

Context:

• Earlier in December 2020, Traveloka president Henry Hendrawan said that the company has been approached by a few companies for a SPAC.
• The development comes amid reports that mention Grab, Gojek, and Bukalapak as potential SPAC targets as well.