Universal Entertainment wants a Special Purchase Acquisition Company (SPAC) to help it with Okada Manila going public. Universal wants Okada Manila to become a publicly-traded company in the U.S. It is willing to earn a spot on either the NASDAQ or the NYSE.
After the company’s struggle with COVID-19 and striking back, it believes that the timing is perfect for the public launch and entering new horizons.
As per CalvinAyre.com, Universal asserted, “In view of this situation, [and] having positioned its IR Business as the core business of the Company Group, the Company recently arrived at the decision to pursue a detailed examination of the listing of that business on either the U.S. NASDAQ Stock Exchange or the New York Stock Exchange with the aim of realizing the further expansion of that business and greater corporate group value.”
It added, “The Company has already executed advisory agreements with multiple financial advisory firms in Japan and the U.S. in order to prepare for the listing of its IR Business … and is currently engaged in the selection of a SPAC, the investigation of aspects involving the law and tax systems, the revision of the capital structure of the Company Group as a whole, with the aim of listing the business sometime in fiscal 2021.”