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SINGAPORE Dec 16 (Reuters) - Indonesia’s largest e-commerce Tokopedia said on Wednesday it was not committed to a merger with a special purpose acquisition company (SPAC) and was evaluating its market options.
“We are considering to accelerate our plan to go public and we appointed Morgan Stanley and Citi to be our advisors,” a Tokopedia spokeswoman said in a statement. “We have not decided yet which market and method, a SPAC is only a potential option”
Reuters reported on Tuesday, that according to a source, Tokopedia had received a merger approach from blank-check acquisition firm Bridgetown Holdings Ltd, but hadn’t decided on whether to pursue a deal.
Bridgetown, a SPAC backed by Asian tycoon Richard Li and Silicon Valley billionaire Peter Thiel, raised $595 million in an upsized U.S. initial public offering in October. It has held talks with other Southeast Asian companies for prospective SPAC deals.
Reporting by Fanny Potkin, editing by Louise Heavens