NusaTrip, an Indonesia-based online travel agent spun out of Society Pass, raised $15 million by offering 3.75 million shares at $4, the low end of the range of $4 to $5.
NusaTrip states that it is the first Indonesian-based online travel agent (OTA) in Indonesia to receive International Air Transport Association (IATA) accreditation. The company says it will focus on M&A opportunities of offline travel agencies in its geographic area of focus, Southeast Asia (SEA) and Asia-Pacific (APAC), having already completed two acquisitions in Vietnam.
NusaTrip's controlling shareholder is Society Pass (SOPA), a 2021 US IPO.
The company plans to list on the Nasdaq under the symbol NUTR. Cathay Securities acted as sole bookrunner on the deal.
