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Tiket.com in talks to go public via SPAC merger
Indonesia based OTA Tiket.com plans to go public later this year. It is apparently mulling a merger with a special purpose acquisition company (SPAC). It is reportedly in talks with Cova Acquisition Corp for a merger deal that would value it at about US$2 billion.
It could also go for a traditional initial public offering, according to people familiar with the matter. As part of a SPAC deal, Tiket could raise about US$200 million.
Tiket.com was founded a decade ago and its main local competitor is market leader Traveloka.
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