Bangkok Tellink to Go Public via Merger with Arogo Capital
Deal News | Feb 18, 2025 | EIN
Arogo Capital Acquisition Corp., a special purpose acquisition company, and Bangkok Tellink Co. Ltd., a Thai leader in telecommunications and IoT solutions, have announced a definitive agreement for a business combination valued at $350 million. This merger is intended to secure Bangkok Tellink a listing on Nasdaq, where it aims to leverage U.S. capital markets to propel its growth in next-generation telecommunications technology. The deal, which is set to finalize pending regulatory and shareholder approvals, signifies a strategic move for Bangkok Tellink to enhance its geographic and market reach while advancing its research and development initiatives. Bangkok Tellink, established in 2019, provides mobile services through its MVNO and MVNA licenses, focusing particularly on the expanding eSIM market in Thailand. Arogo's backing will support Bangkok Tellink's ambitions to lead in Southeast Asia's digital transformation. Legal advisory roles are provided by Rimon P.C. in the U.S. and Araya & Partners in Thailand, with financial advisory by ARC Group Limited. Both boards have unanimously approved the transaction, emphasizing a joint vision for growth and value creation.
Sectors
- Telecommunications
- Financial Services
Geography
- United States – Arogo Capital is based in Miami, Florida, and the transaction includes plans for listing the combined entity on the Nasdaq Global Market.
- Thailand – Bangkok Tellink is a Thai telecommunications company seeking broader market access through this strategic merger.
Industry
- Telecommunications – Bangkok Tellink operates in the telecommunications sector, providing mobile network services and IoT solutions, particularly focusing on eSIM technology which is set to expand with this merger.
- Financial Services – Arogo Capital Acquisition Corp., as a special purpose acquisition company, operates within the financial services sector, providing a platform for investments and mergers, such as the one with Bangkok Tellink.
Financials
- USD 350 million – The proposed business combination transaction value.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Bangkok Tellink Co., Ltd. | Target Company | Company | A leading telecommunications company in Thailand, providing mobile network services and IoT technology. |
| Arogo Capital Acquisition Corp. | Bidding Company | Company | A special purpose acquisition company focused on mergers and acquisitions. |
| Nusttanakit Sasianon | CEO of Bangkok Tellink | Person | CEO leading Bangkok Tellink through its strategic merger and expansion. |
| Suradech Taweesaengsakulthai | CEO of Arogo Capital | Person | CEO overseeing Arogo's strategic investment in Bangkok Tellink. |
| Rimon P.C. | Legal Advisor to Arogo | Company | Providing legal counsel in the U.S. for the business combination. |
| Araya & Partners Co., Ltd. | Legal Advisor to Bangkok Tellink | Company | Providing legal counsel in Thailand for the merger. |
| ARC Group Limited | Financial Advisor to Arogo | Company | Providing financial advisory services for the business combination. |