05 Jan 2024

US$500 million business combination between DigiAsia Bios and StoneBridge Acquisition

Partners Hoon Chi Tern and Debbie Woo from Rajah & Tann Singapore acted for DigiAsia Bios Pte. Ltd., a Singapore incorporated embeddable ‘Fintech-as-a-Service’ (FaaS) company with its main business in Indonesia, in its US$500 million business combination with StoneBridge Acquisition Pte. Ltd., a wholly owned subsidiary of StoneBridge Acquisition Corporation, a special purpose acquisition company (SPAC). This strategic merger aims to leverage U.S. capital markets for growth, primarily targeting consumer technology, communications, SaaS, fintech, and media sectors within the Asia Pacific region.