Sep 22, 2021

AVN cancels planned SPAC Nasdaq listing MNC Group chairman and CEO Hary Tanoesoedibjo(Bloomberg/File) share this article PREMIUM Jakarta   ●   Tue, September 21, 2021 PT Asia Vision Network (AVN) has called off a merger with a blank check company and thus aloso scrapped a plan to list its shares through on Nasdaq, the United States stock exchange popular among technology companies. AVN, a subsidiary of media company PT MNC Vision Networks, had planned to list its shares on Nasdaq through a merger with Malacca Straits Acquisition Company, a special purpose acquisition company (SPAC) that trades on Nasdaq as MLAC. MNC Vision Networks corporate secretary Muharzi Hasril said AVN decided to cancel its planned merger and listing because of a fall in share prices, due to an overcrowded market and this year’s boom in SPAC transactions on Nasdaq. Read also: e-Post daily digital newspaper Subscription to our newsletters