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Traveloka mulling public listing
Southeast Asia’s biggest OTA Traveloka has plans to go public soon.
It is mulling a merger with a special purpose acquisition company (SPAC) as a possible option.
"A SPAC is one of the options we are evaluating given we have been approached by a few," Traveloka President Henry Hendrawan said.
A SPAC is a blank-check firm which merges with a company for the purpose of going public.
This process is a quicker way to a public listing, is cheaper and has less strings attached
Traveloka is considering whether to pursue a conventional IPO or a SPAC and is looking for a valuation of about $6 billion.
Traveloka has previously said it would look at a dual listing in Jakarta and possibly the US.
It is targeting profitability by 2021.
Written by Ray Montgomery, Asia Editor
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TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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