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Fortune Oriental Portfolio Firm Completes Horizon Space Merger; Shares Rally 10%

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Fortune Oriental's (TPE:2491) portfolio company SL Bio has completed its business combination with special purpose acquisition company, Horizon Space Acquisition II, according to a Friday Malaysian bourse filing.

Shares jumped about 10% in Monday's afternoon trade.

Following the transaction, the combined entity will operate as SL Science Holding and is scheduled to begin trading on the Nasdaq Global Market under the ticker symbol SLBT on June 15.

Upon completion of the listing, Fortune Oriental's 30,000 shares in SL Bio will be converted into 4.55 million shares of SL Science, it said.

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