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Sources: Traveloka selects JPMorgan for US IPO through SPAC

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Deepti Sri · 11 Feb 2021 · 1 min read

Sources: Traveloka selects JPMorgan for US IPO through SPAC

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“Traveloka, Southeast Asia’s biggest online travel startup, has picked JPMorgan Chase to help it explore a public listing in the US via a special purpose acquisition company (SPAC),” reported Bloomberg, citing people familiar with the matter.

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.

Editing by Collin Furtado and September Grace Mahino

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