Jollibee founder Tony Tan backs hotel SPAC deal despite lull in IPOs

Jollibee founder Tony Tan backs hotel SPAC deal despite lull in IPOs

The founder of the Philippine fast-food giant Jollibee, Tony Tan, is throwing his full weight behind the initial public offering of a hotel brand on New York’s Nasdaq via a merger with a special purpose acquisition company (SPAC) despite the shaky record of the listing vehicle.

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