MNC Vision Unit to Merge with NasdaQ Listed Malacca Straits
PT MNC Vision Network Tbk (IPTV) and Malacca Straits Acquisition Company Limited (NASDAQ: MLAC) have signed a business combination agreement, which regulates the merger between IPTV's subsidiary and NASDAQ: MLAC).
The two parties have signed a complete business combination agreement on March 22, 2021.
The agreement is accompanied by postponement conditions that each party must fulfill as a condition for the completion of the contract.
"If the fulfillment can be done, it is expected that it will have a positive impact on the company's financial performance," said IPTV Corporate Secretary Muharzi Hasril in the IDX disclosure on Thursday (25/3).
Malacca Straits Acquisition Company Limited is a special purpose acquisition company whose shares are publicly traded on the Nasdaq Stock Exchange and led by CEO Kenneth Ng.
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