RTTNews | Apr 9, 2021 02:47PM EDT

14:46 09 April 2021 (RTTNews.com) - Shares of Bridgetown Holdings Ltd. (BTWNU) are down nearly 4% on Friday intraday trading. Earlier today, Bloomberg reported that Indonesian travel company Traveloka is seeking to go public by merging with Bridgetown, a Hong Kong-based special purpose acquisition company.

The deal, kept strictly private, is also expected to include fundraisers worth $500 million to $750 million through private investment in public equity.

Bridgetown has already raised $595 million in a US-based IPO in October 2020. The company, sponsored by Peter Thiel and Richard Li, saw its stock rise by 6% in the pre-market after the news broke.

BTWNU is currently trading at $12.96, down $0.45 or 3.36%, on the Nasdaq. In the 52-week period, the stocks ranged between $9.96 and $20.50 on an average volume of 51.09k shares.

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