KUALA LUMPUR: Graphjet Technology Sdn Bhd, a green graphite producer, is eyeing a Nasdaq debut with a US$1.49bil pro forma enterprise value following the approval of its de-SPAC transaction by the Securities and Exchange Commission of the United States.
Graphjet said the development is a milestone in its journey towards becoming a publicly traded entity.
A de-SPAC is a process that enables a privately held operating company to become public by merging with an already-public shell company known as a special-purpose acquisition company or SPAC.
Following the merger’s completion, the operating company becomes public and can use the dissolved shell company’s capital.In a statement yesterday, its co-founder and chief executive officer Aiden Lee Ping Wei said the company’s success is rooted in continuous innovation especially in green technology. — Bernama
