(RTTNews) - Shares of Bridgetown Holdings Ltd. (BTWN) are currently jumping over 18% on report that the special purpose acquisition company is exploring a merger with Indonesia-based e-commerce giant PT Tokopedia.
BTWN is currently trading at $13.08, up $2.00 or 18.05%, on the Nasdaq.
According to a Bloomberg report, Bridgetown, a special purpose acquisition company backed by billionaires Peter Thiel and Richard Li, is exploring the structure and feasibility of a merger with Tokopedia. The company is in talks with the Softbank Group-backed startup in a deal worth up to $8 billion to $10 billion.
Bridgetown had raised $550 million in a U.S. initial public offering in October.
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