U.S. markets closed

Bridgetown Holdings Limited (BTWNU)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
Add to watchlist
10.890.00 (0.00%)
At close: 3:53PM EDT
Full screen
Loading interactive chart...
  • Miss the SPAC Boom? Buy Peter Thiel's on the Ground Floor
    Motley Fool

    Miss the SPAC Boom? Buy Peter Thiel's on the Ground Floor

    For those that have 2021 FOMO (or, the fear of missing out), I think there is a SPAC that is a brilliant investment, and is trading for its original price when it should trade for a premium. Billionaire investor Peter Thiel is one of the most successful venture capitalists ever. Given his past successes, it is pretty incredible that his SPAC is trading right around its original valuation.

  • Indonesia's Traveloka Eyes $5B US Listing Via SPAC Merger With Bridgetown Holdings: Bloomberg
    Benzinga

    Indonesia's Traveloka Eyes $5B US Listing Via SPAC Merger With Bridgetown Holdings: Bloomberg

    Indonesian travel unicorn Traveloka is in advanced talks for public listing via special purpose acquisition company (SPAC) merger with billionaires Richard Li and Peter Thiel sponsored Bridgetown Holdings Ltd (NASDAQ: BTWN) in a deal worth $5 billion, Bloomberg reports. The fundraise could range between $500 million and $750 million via a private investment in public equity (PIPE). Bridgetown shares rose close to 6% in premarket trading, extending their 13% gain on Thursday. SoftBank Group Corp (OTC: SFTBF) (OTC: SFTBY)-sponsored Singapore’s ride-hailing and financial services start-up Grab is ready for a U.S. listing via Altimeter Capital’s SPAC Altimeter Growth Corp (NASDAQ: AGC), with a $40 billion valuation. Traveloka was valued at around $2.75 billion in 2020. Bridgetown had raised roughly $595 million in October initial public offering (IPO) backed by Thiel’s Los Angeles-based personal investment vehicle Thiel Capital and Li’s Hong Kong-based investment company Pacific Century Group. Representatives for Bridgetown and Traveloka declined to comment to Bloomberg. Traveloka has expanded its base across six Southeast Asian nations, including Australia, enabling consumer flight and hotel reservations across countries. Traveloka gradually diversified its offerings into finance apart from travel, lifestyle, and accommodation booking portfolio. Traveloka’s sponsors include Expedia Group Inc (NASDAQ: EXPE), Rocket Internet SE (OTC: RCKZF), East Ventures, Li’s FWD Group Ltd., and Singapore’s GIC Pte. Price action: BTWN shares traded higher by 3.06% at $12.48 in the premarket session on the last check Friday. See more from BenzingaClick here for options trades from BenzingaWhy Is BTWN Stock Trading Higher Today?© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Traveloka Said in Talks to List via Thiel’s Bridgetown SPAC
    Bloomberg

    Traveloka Said in Talks to List via Thiel’s Bridgetown SPAC

    (Bloomberg) -- Indonesia’s Traveloka is in advanced talks to go public through merging with Bridgetown Holdings Ltd., a blank-check firm backed by billionaires Richard Li and Peter Thiel, according to people familiar with the matter.A deal could value Southeast Asia’s online travel leader at about $5 billion, said the people who asked not to be identified because the matter is private. The potential transaction could also involve raising between $500 million and $750 million through a private investment in public equity, or PIPE, the people said. Details including the amount to be raised could change as the companies start discussions with potential investors, they added.Representatives for Bridgetown and Traveloka declined to comment.Shares in Bridgetown Holdings rose about 6% in pre-market trading in New York, extending their 13% gain on Thursday.The deal would make Jakarta-based Traveloka one of the first Southeast Asian unicorns to go public through a special purpose acquisition company, or SPAC. Grab Holdings Inc. is in advanced talks to go that route through Altimeter Capital’s first SPAC, which may value the company at about $40 billion, Bloomberg News reported last month.Read more: Traveloka Is Said to Pick JPMorgan for U.S. Listing via SPACTraveloka was valued in 2020 at around $2.75 billion, according to people familiar with the matter.Bridgetown raised about $595 million in a U.S. initial public offering in October. The company’s sponsor is a collaboration between Thiel Capital, Thiel’s personal investment vehicle based in Los Angeles, and Pacific Century Group, a Hong Kong-based investment company led by Li.Founded in 2012, Traveloka has expanded its reach across six Southeast Asian nations and also covers Australia, making it easier for consumers to book flights and hotels across countries. Like other startups in the region, the company has sought to grow its offering with complementary services, extending into finance alongside its travel, lifestyle and accommodation booking portfolio.Traveloka’s backers include Expedia Group Inc., Rocket Internet, East Ventures, Li’s FWD Group Ltd. and Singapore’s GIC Pte.(Adds pre-market trading in fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.