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Deepti Sri · · 1 min readSources: Carousell mulls going public in the US via SPAC merger this year
“Carousell, a Singapore-based online classifieds marketplace operator, is considering a US listing via a merger with a blank-check company,” Bloomberg reported, citing people with knowledge of the matter.
Details:
- The reported deal with a special purpose acquisition company (SPAC), which is expected to take place as soon as the end of this year, may push the value of the firm to US$1.5 billion.
- Carousell is now in the preliminary stages and is working with an adviser for the potential transaction, according to the sources.
Context:
- The company joins a slew of Southeast Asian companies including Carsome, Tiket.com, PropertyGuru, and Grab that are looking to capitalize on the boom in tech stocks amid the pandemic by listing themselves via the SPAC route.
- In April, Carousell announced the launch of Carousell Auto Group, which includes its automobile classifieds platforms across the region.
Editing by Collin Furtado and Eileen C. Ang
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