DoubleDragon's subsidiary Hotel101 Global will become the first Philippine company to list in the U.S. through a merger with special purpose acquisition company JVSPAC Acquisition Corp, resulting in an equity value of over $2.3 billion.
SINGAPORE/MANILA - Philippine real estate firm DoubleDragon on Monday said subsidiary Hotel101 Global will list on the Nasdaq in the United States via a merger with special purpose acquisition company JV SPAC Acquisition Corp.
Hotel101 is the hotel arm of Philippines-listed DoubleDragon, formed by tycoon Sia with Jollibee Foods owner Tony Tan Caktiong. It is headquartered in Singapore and operates two hotels in the Philippines, with three under development in Japan, Spain and the U.S. The merger will see Hotel101 join a growing number of Southeast Asian firms to list in the U.S., filling a void left by Chinese companies that have paused such listings amid Sino-U.S. tension.Vietnamese EV maker VinFast listed in the U.S. in August via a merger with SPAC Black Spade Acquisition. It now commands a market value of some $10 billion, LSEG data showed.
On May 10, 2019, Uber’s IPO was one of that year's most highly anticipated listings. The company priced its IPO at $45 per share, valuing the company at over $80 billion.Tax cuts that went into effect during the Trump administration are due to expire at the end of 2025, which isn't exactly right around the corner but isn't in the far distant future, either. A lot can...I'm 55 and would like to retire now with a $3 million total net worth.
Philippine Real Estate Doubledragon Hotel101 Global Nasdaq Merger SPAC Equity Value Global Expansion
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Philippines' DoubleDragon subsidiary Hotel101 Global to list in USExplore stories from Atlantic Canada.
Read more »
Global Market Scan: New challenges for global seaborne tradeCanada's construction news
Read more »
How Ben Cowan-Dewar built a global golf empire (and survived two global crises)Cowan-Dewar started with one golf course on Cape Breton Island—built during the financial crisis—and grew into a slate of courses around the world
Read more »
Severe drought at Panama Canal could impact global supply chains, says S&P GlobalThe severe drought at the Panama Canal, which has led to daily crossing limitations, could have an impact on global supply chains during a period of high demand, according to S&P Global. While container ships have priority status, other categories, particularly bulk carriers, have been affected by transit restrictions.
Read more »
Severe Drought at Panama Canal Could Impact Global Supply Chains, S&P Global WarnsThe severe drought at the Panama Canal, which has led to daily crossing limitations, could have an impact on global supply chains, according to S&P Global. The canal has recently increased daily crossings, but the capacity pressures are starting to affect supply chains. While container ships have priority, other categories, especially bulk carriers, have been affected by transit restrictions.
Read more »
What Exxon's CEO is a 'fan' of in the Inflation Reduction ActSaudi Aramco CEO Amin Nasser told attendees at CERAWeek by S&P Global, a global energy conference, that global leaders should 'abandon the fantasy of phasing...
Read more »