International hospitality company Selina Hospitality plc (Nasdaq: SLNA), which was founded in 2015 by Israeli entrepreneurs Rafael Museri and Daniel Rudasevski, has seen its share price jump 319.5% on its first day of trading on Wall Street.
Selina completed its merger with special purpose acquisition company (SPAC) BOA Acquisition Corp. at a company valuation of $1.2 billion and enterprise value of $942 million, after neutralizing cash. The share began trading at $9.75 and opened by losing 14% before a remarkable rally saw the share price close 319.5% up on the day at $40.90.
RELATED ARTICLES
Museri said, “The completion of this transaction is further validation of our highly differentiated hospitality offering, we can scale the brand and our unique destinations to travelers and locals around the world like never before. We look forward to leveraging this capital to drive long-term profitable growth, introduce new offerings that facilitate meaningful connections, and enhance our technology to support our rapid global expansion.”
Headquartered in London, Selina is undergoing rapid expansion and currently has a diverse range of 163 hospitality properties in over 20 countries including nine in Israel.
Published by Globes, Israel business news – en.globes.co.il – on October 28, 2022.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
