Hotel101 Global inks merger agreement with JVSPAC for Nasdaq listing

The merger — which values Hotel101 at $2.3 billion or P130 billion upon completion — is expected to close in the second half of 2024, subject to regulatory and shareholder approvals, and other customary closing conditions.Listed on the Nasdaq, JVSPAC is a blank check company led by its chairman and chief executive officer Albert Wong, who has been the chief executive officer and director of Kingsway Group Holdings, the sole distributor of Lamborghini in Hong Kong, Macau, and Guangzhou.

Hotel101 earlier said it secured the ticker symbol “HBNB” at the Nasdaq Stock Exchange, with the firm set to be the first Filipino company to list on the Nasdaq Stock Exchange through a special purpose acquisition company .

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