Asia Innovations Group, a Leading Mobile Social Platform in Emerging Markets, to Become a Publicly Listed Company Through Merger with Magnum Opus Acquisition Limited (NYSE: OPA)

Largest Consumer Internet SPAC Merger announced YTD in 2022

SINGAPORE and NEW YORK, Sept. 30, 2022 /PRNewswire/ -- Asia Innovations Group Limited ("ASIG" or the "Company") today announced that it has entered into a definitive merger agreement (the "Merger Agreement") with Magnum Opus Acquisition Limited (NYSE:OPA) ("OPA"), a special purpose acquisition company. The proposed business combination transaction (the "Business Combination") provides for an equity valuation of $2.5 billion for the combined company. The proposed transaction represents the largest consumer Internet SPAC merger announced year to date in 2022.