Rajah & Tann Singapore LLP acted for DigiAsia Bios Pte. Ltd., an Indonesia-based fintech-as-a-service (FaaS) provider, in its proposed US$500 million merger with StoneBridge Acquisition Pte. Ltd., a wholly-owned subsidiary of StoneBridge Acquisition Corporation, a special purpose acquisition company (SPAC).

The transaction was led by Partners Hoon Chi Tern and Debbie Woo, who provided legal advice on structuring, regulatory compliance, and the execution of the cross-border deal. The proposed merger will result in the combined company being listed on the Nasdaq Capital Market.

DigiAsia Bios is recognized for its innovative fintech solutions, and this merger represents a significant step in expanding its market reach and access to global capital markets. The transaction highlights the growing trend of SPAC mergers as a vehicle for companies in emerging markets to go public.

(Sources)