Stock Alert: Bridgetown Holdings Climbs 18% On Potential Merger Deal With PT Tokopedia

(RTTNews) - Shares of Bridgetown Holdings Ltd. (BTWN) are currently jumping over 18% on report that the special purpose acquisition company is exploring a merger with Indonesia-based e-commerce giant PT Tokopedia.

BTWN is currently trading at $13.08, up $2.00 or 18.05%, on the Nasdaq.

According to a Bloomberg report, Bridgetown, a special purpose acquisition company backed by billionaires Peter Thiel and Richard Li, is exploring the structure and feasibility of a merger with Tokopedia. The company is in talks with the Softbank Group-backed startup in a deal worth up to $8 billion to $10 billion.

Bridgetown had raised $550 million in a U.S. initial public offering in October.