Philippines’ DoubleDragon subsidiary Hotel101 Global to list in US

Philippine real estate firm DoubleDragon on Monday said subsidiary Hotel101 Global will list on the Nasdaq in the United States via a merger with special purpose acquisition company JVSPAC Acquisition Corp. Hotel101 Global will become the first Philippine company to list in the U.S. following the deal with the SPAC – a publicly listed shell that raises funds to merge with a private entity. The merger is likely to result in Hotel101 having an equity value of over $2.3 billion, DoubleDragon, Hotel101 and JVSPAC said in a joint statement.