Hotel101 NASDAQ IPO approved by US SEC

DoubleDragon [DD 11.06 ?8.9%; 1205% avgVol] [link] notified investors that its subsidiary, Hotel101 Global Holdings Corp [HBNB], had its IPO on the NASDAQ approved by the US Securities and Exchange Commission. DD said that it expects HBNB to list later this month, and to have an equity value of $2.3 billion (P130 billion) once listed.

  MB BOTTOM-LINE:  I don't care too much about this being the first PH-owned company to be listed and traded on the NASDAQ. Whatever fanboy that existed within me for the NASDAQ died when Maria Bartiromo took that job at Fox News screeching alt-right talking points. I do care, however, that this is the first SPAC listing that we’ve seen because it makes the potential deal a lot less straightforward. Those who were watching the US markets around the time when SPACS were hot may share my distaste for this backdoor listing method. That doesn’t mean there’s anything wrong; it's just that the potential for things to get confusing is quite high. I’ll do an explainer on what is happening here once the listing date is confirmed.