Malaysia’s Capital A finalises deal to list brand management unit in US via merger
MALAYSIA’S Capital A on Wednesday (Feb 28) said it has finalised a US$1.15 billion deal to list its brand management unit, Capital A International (CAPI), on the Nasdaq via a merger with a Spac called Aetherium Acquisition Corp.
A Spac (special purpose acquisition company), or blank-cheque firm, is a publicly listed shell company that raises funds to merge with a private company.
The listing, first announced last year, will allow CAPI to access the world’s most extensive and liquid capital markets, and enhance Capital A’s international credibility and presence, Group chief executive Tony Fernandes said in a statement.
“We are optimistic about the potential for our brand business to expand well beyond our origins, particularly in markets where intellectual property and brand value are highly esteemed by consumers and investors,” he said.
The transaction gives CAPI an estimated pro forma enterprise value of US$1.15 billion, according to the statement.
The deal sees Capital A joining a growing number of South-east Asian companies seeking to list in the US to fill a void left by Chinese companies that have paused US IPOs amid political tensions with Washington. REUTERS
A NEWSLETTER FOR YOU
Asean Business
Business insights centering on South-east Asia's fast-growing economies.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Asean
Microsoft bets big on South-east Asia, pledges billions in AI and cloud investments
Magnitude 6.0 quake strikes Philippines, aftershocks and damage expected
Indonesia central bank says SRBI auction will be held twice a week to attract more inflow
Thai police raid illegal bitcoin mining operation
Thailand’s April inflation rises slightly, first time in 7 months
Myanmar junta bans men from applying to work abroad: statement