DOUBLEDRAGON’S subsidiary Hotel101 Global Pte Ltd has officially reserved the Nasdaq stock exchange ticker symbol “HBNB.”
This step is in line towards Hotel101 Global’s previously announced special purpose acquisition company (Spac) listing preparations and given the latest progress, Hotel101 Global expects to sign with its chosen Spac sponsor the Definitive Spac Business Combination Merger Agreement by next month in March 2024, to be followed by the official filing of its prospectus subject to the US regulatory approvals.
DoubleDragon expects Hotel101 Global to very soon become the very first Filipino company to list via Spac in the US Nasdaq Stock Exchange, and to become one of the major brands, concept and business model export of the Philippines, given its asset-light business model could become one of the major sources of US dollar inflow to the Philippines from 2025 onwards.
The first three overseas Hotel101 projects will be in Niseko Hokkaido, Japan, Madrid, Spain and Los Angeles, California USA.