Philippine DoubleDragon's Hotel101 Merges With SPAC, Listing On Nasdaq [Forbes]
JVSPAC Acquisition Corp. - Unit (JVSAU)
Company Research
Source: Forbes
from right) and Hotel101 CEO Hannah Yulo-Luccini at the signing ceremony of the Hotel101 and JVSPAC merger deal in Hong Kong. Hotel101 Global —a unit of DoubleDragon, which is jointly owned by Philippine fast food giant Jollibee founder Tony Tan Caktiong and tycoon Edgar Sia II —said Monday it has agreed to merge with JVSPAC Acquisition Corp in a deal that values the Singapore-headquartered hotel operator at $2.3 billion. Once the deal is completed by the second half of this year, subject to regulatory and shareholder approvals, Hotel101 will be publicly listed on Nasdaq under the ticker symbol of HBNB, the company said in a statement. It will be the first Filipino-owned company with a primary listing in New York. The merger with JVSPAC —a special purpose acquisition company (SPAC) led by Hong Kong-based businessman Albert Wong, CEO of Kingsway Group, the sole distributor of Lamborghini in Hong Kong, Macau and Guangzhou—and the Nasdaq listing will help bankroll Hotel101's ambiti
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News
- HOTEL101 GLOBAL SIGNS DEFINITIVE MERGER AGREEMENT WITH JVSPAC ACQUISITION CORPORATION TO PUBLICLY LIST ON THE NASDAQPR Web
- HOTEL101 GLOBAL SIGNS DEFINITIVE MERGER AGREEMENT WITH JVSPAC ACQUISITION CORPORATION TO PUBLICLY LIST ON THE NASDAQ [Yahoo! Finance]Yahoo! Finance
- Philippines' DoubleDragon subsidiary Hotel101 Global to list in US [Reuters]Reuters