Why Is BTWN Stock Trading Higher Today?

Indonesia-based tech startups have been in the news recently. As Indonesia supports dual listing for unicorn IPOs, many companies are looking to go public via SPAC mergers in the U.S.
Based on a recent report, Indonesian online travel startup Traveloka was looking to go public via SPAC merger.
Traveloka's plans were in line with its new post-paid travel options capitalizing on the business recovery from easing restrictions and vaccinations. The pandemic-ravaged travel industry has facilitated fund collection at a cheaper valuation.
SoftBank Group Corp SFTBF SFTBY-backed Singapore's ride-hailing and financial services startup Grab is set for a U.S. public listing through Altimeter Capital's SPAC Altimeter Growth Corp AGC, in a deal valued at $35 billion by as early as this week.
Indonesian ride-hailing and e-commerce platforms Gojek and PT Tokopedia set merger terms before listing in Jakarta and the U.S. as per this Bloomberg report.
Billionaires Richard Li and Peter Thiel backed SPAC Bridgetown Holdings Ltd BTWN is contemplating a possible merger with SoftBank-backed PT Tokopedia, at $8 to $10 billion valuations, based on this Bloomberg report.
With Grab's SPAC merger on the cards, is the market estimating the Bridgetown-Tokopedia deal to go through soon? Both Grab and Tokopedia have SoftBank as one of their backers.
Price action: BTWN shares traded higher by 5.09% at $11.35 on the last check Thursday.