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Forbes to go public with help from Asian investors

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31.08.2021

Forbes Global Media Holdings, the privately-held business media firm known for its rankings of the world's weathiest and upwardly mobile leaders, has agreed to a deal that will see it become a publicly traded company.

In a merger agreement with special-purpose acquisition company (SPAC) Magnum Opus (NYSE: OPA), Forbes is valued at approximately $630 million and will raise approximately $600 million, with $200 million coming from Magnum Opus' trust account and another $400 million raised from a private placement of shares sold to funds and accounts managed by institutional investors. The company will eventually be listed on the New York Stock Exchange under the ticker symbol 'FRBS' when the deal closes late in the fourth quarter of 2021 or early first quarter of 2022.

Last June, digital media comapny BuzzFeed reached a similar deal to go public via a SPAC, while reports have linked other media........

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