DoubleDragon unit Hotel101 Global readies US listing

Hotel101 Global Pte. Ltd., the Singapore-headquartered subsidiary of DoubleDragon Corp., has firmed up its planned listing in the United States through a merger with a special purpose acquisition company JVSPAC Acquisition Corp.

- RICHMOND MERCURIO

In a statement, Hotel101 Global said it has entered into a binding definitive merger agreement with JVSPAC, with the combined entity to list on the US NASDAQ under the ticker symbol "HBNB." Hotel101 Global and affiliates will have an equity value of $2.3 billion, or about P130 billion, following the completion of the merger transaction.

Closing of the transaction is targeted within the second half of the year, subject to regulatory and shareholder approvals and other customary closing conditions.