Bridgetown Holdings Limited (BTWN)

SINGAPORE and HONG KONG, Oct. 13, 2023 (GLOBE NEWSWIRE) -- CompareAsia Group Capital Limited (“MoneyHero” or the “Company”), a market leading financial products platform in Greater Southeast Asia, completed its previously announced business combination with Bridgetown Holdings Limited (NASDAQ: BTWN) (“Bridgetown”), a special purpose acquisition company formed as a collaboration between Pacific Century Group (“Pacific Century”) and Thiel Capital LLC (“Thiel Capital”), on October 12, 2023 (Eastern Time). The business combination was approved by Bridgetown shareholders in an Extraordinary General Meeting of Bridgetown Shareholders held on October 10, 2023.

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Nothing short of a ten-bagger is expected of BTWN. Given Peter Thiel's reputation and track record, investors shouldn't miss investing with Peter Thiel at NAV. We showed how BTWN's merger target, Taveloka, fulfills BTWN's Business Combination Criteria according to BTWN's Securities Registration Statement.

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Bridgetown Holdings is backed by Peter Thiel, PayPal/Palantir founder, and Robert Li, founder of Pacific Century Group, Pacific Century Cyberworks, and Hong Kong Telecom. The company has time until October 20, 2022, to complete its initial business combination. If it fails to do so, it will have to cease operations.

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A SPAC launched in October by Peter Thiel and Richard Li is being linked to a merger with Indonesian e-commerce company Tokopedia. About the SPAC: Billionaires Thiel and Li launched Bridgetown Holdings (NASDAQ:BTWN) to target the southeast Asia region.

Blank-check acquisition firm Bridgetown Holdings is considering a deal with the Indonesian eCommerce firm Tokopedia, Reuters reported on Tuesday (Dec. 15), citing sources. Backed by Asian tycoon Richard Li and San Francisco billionaire Peter Thiel, some $595 million was raised for Bridgetown in an October public offering.

BTWN stock is soaring on Tuesday as media reports have the SPAC considering a merger with Indonesia's e-commerce giant PT Tokopedia. With rampant SPAC fever, is Bridgetown Holdings right for your portfolio?