SINGAPORE : Philippine real estate company DoubleDragon Corp said on Tuesday it is considering listing its Singapore-registered unit Hotel101 Global on the U.S. Nasdaq via a merger with a special purpose acquisition company, or SPAC.DoubleDragon confirmed in response to a local media report that it was we
SINGAPORE : Philippine real estate company DoubleDragon Corp said on Tuesday it is considering listing its Singapore-registered unit Hotel101 Global on the U.S. Nasdaq via a merger with a special purpose acquisition company, or SPAC.
"We likewise clarify, that the amount of equity to be raised will still be finalised at a future date, although it is notable that generally, most SPACs invest about $200 million for mergers and acquisitions," the company said in a stock exchange filing. Hotel101 provides mid-class hotel accommodation for leisure and business travellers in the Philippines, according to its website. DoubleDragon said Hotel101 will expand to 25 countries including the United States and China by 2026.
DoubleDragon's plan follows that of Vietnamese electric vehicle company VinFast, which plans to list in the United States this month via a merger with a SPAC called Black Spade Acquisition.
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