Tokopedia has been considering an IPO since 2019, without providing a specific timeline. First and foremost, they instantly become a public company, skipping the many hassles of the traditional IPO procedures. Even though these entities have been around for decades, they became increasingly popular this year, in which they already raised USD 70 billion.ДЇor private businesses, merging with a SPAC has several advantages. According to the source, Li is already a minority investor in Tokopedia.Д«lank-check companies, also known as SPACs, are formed strictly to raise capital through an initial public offering (IPO) for the purpose of acquiring an existing company. The spokesperson added that a special purpose acquisition company (SPAC), like Bridgetown, is вЂњa potential option that we could consider.вЂќ According to Bloomberg,В a transaction could value Tokopedia as high as USD 10 billion.ДЇounded in September 2020 by billionaire Peter Thiel and Hong Kong tycoon Richard Li, Bridgetown raised USD 550 million in an IPO in OctoberВ with the intention to invest in вЂњnew economyвЂќ startups in Southeast Asia.

The statement comes after merger rumorsВ with blank-check company Bridgetown Holdings Ltd ( NASDAQ: BTWN) emerged earlier this week. вЂњWe have not decided yet which market and method, and are still considering options.вЂќ The special purpose acquisition company (SPAC) is exploring the structure and feasibility of a deal with Tokopedia, one of the most valuable startups in the South-East Asian nation, the sources. вЂњWe are considering to accelerate our plan to go public and we have appointed Morgan Stanley and Citi to be our advisors,вЂќ a spokesperson told KrASIAВ on Wednesday. Indonesian e-commerce platform Tokopedia has confirmed that it is working towards an initial public offering. The company has appointed Morgan Stanley and Citi as advisors for the IPO process.

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