Chenghe Acquisition II Co.
CHEB
New York Stock Exchange Arca10.55
USD
-0.40
- -
Chenghe Acquisition II Co.
CHEB
(New York Stock Exchange Arca)
Recent
price
10.55
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Similar Companies
- Business
- Chenghe Acquisition II Co. (NYSE American: CHEB) is a blank check company incorporated as a Cayman Islands exempted company whose principal business purpose is to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. The company conducts no significant operations other than evaluating and pursuing such initial business combinations, with a particular focus on high-growth companies in or with significant presence in Asian markets; it offers no specific products or services beyond the prospective combination process, including units comprising Class A ordinary shares and redeemable warrants exercisable at $11.50 per share. Chenghe Acquisition II Co. was founded in 2024 and is headquartered in Singapore. In a major strategic development completed on August 7, 2025, the company was acquired by Polibeli Group Ltd through a reverse merger transaction valued at a $3.6 billion enterprise value, pursuant to a definitive business combination agreement originally signed on September 16, 2024. Chenghe shareholders approved the transaction on May 23, 2025, with closing subject to customary conditions including regulatory approvals and Nasdaq listing; post-combination, the surviving entity operates as Polibeli Group Ltd, with Class A ordinary shares commencing trading on the Nasdaq Global Market under the ticker symbol PLBL effective August 8, 2025, and each pre-combination CHEB share exchanged on a one-for-one basis. This de-SPAC merger represents a significant operational shift from a pre-deal SPAC to an operating public company focused on digital supply chain and distribution-sales services worldwide. Prior to the merger, Chenghe Acquisition II Co. completed its initial public offering in June 2024, raising gross proceeds of $89.35 million through 8,625,000 units priced at $10.00 each, including an over-allotment option fully exercised, with concurrent private placement units sold to the sponsor and underwriters; funds were placed in trust pending a business combination. The company, led by CEO and Chairman Dr. Shibin Wang and CFO Lyle Wang, targeted opportunities across industries but emphasized Asia-focused entities, operating from Singapore with no material subsidiaries pre-merger.