Indonesian Travel Startup Tiket Weighs SPAC Merger This Year

Tiket.com Main Executive Officer George Hendrata stated his on the internet travel startup is contemplating…

Indonesian Travel Startup Tiket Weighs SPAC Merger This Year

Tiket.com Main Executive Officer George Hendrata stated his on the internet travel startup is contemplating going community through a merger with a unique function acquisition enterprise, confirming an before Bloomberg News report.

The Indonesian corporation is also discovering a standard preliminary public supplying as well as perhaps combining with just one of the Southeast Asian super applications, Hendrata reported in an job interview with Bloomberg TV’s David Ingles and Tom Mackenzie on Wednesday through the Goldman Sachs TechNet Meeting Asia Pacific.

If Tiket decides to go community, “it will absolutely be inside this 12 months,” the CEO said. “Traditional IPO, certainly searching at that, but for the comprehensive travel restoration, it will acquire a yr or even two. The SPAC option is a lot quicker.”

Tiket is in talks with COVA Acquisition Corp. for a offer that would value the blended entity at about $2 billion, Bloomberg News described final week. Goldman Sachs Group Inc. is advising Jakarta-primarily based Tiket, according to people acquainted with the matter. As part of the deal, Tiket could increase about $200 million in a so-termed personal financial investment in community fairness, or PIPE, that usually accompanies a SPAC merger, they mentioned.