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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
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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