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Copyright Post Nautical 2021
Technology in Indonesia is growing at an incredible pace. Companies like Gojek and Tokopedia are set to merge and form a SPAC (See GOJEK and Tokopedia SPAC) shortly. Whether the merger lists under a Tokopedia IPO or as Gojek IPO (See when is the Gojek IPO) is yet to be
Firstly let me say this; before I got into fintech in Indonesia I had no idea what a SPAC was. I’m still a bit confused about the whole thing but according to Investopedia: A special purpose acquisition company (SPAC) is formed to raise money through an initial public offering to buy another company. Have a look over the Investopedia site for a broader definition as its outside of my scope at the time being.
What you need to know: In December of 2020 Bank Jago announced that it would be receiving a major investment from the Gojek investment arm. Jago was founded in 1992 in Bandung under the name PT Bank Artos. Up until 2019, the bank offered traditional products before going through a