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Grab To IPO in US Through SPAC Merger

Grab Holdings Inc, Southeast Asia’s leading superapp, today announced it intends to go public in the U.S. in partnership with Altimeter Growth Corp. in what is expected to be the largest-ever U.S. equity offering by a Southeast Asian company.

The combined company expects its securities will be traded on NASDAQ under the symbol “GRAB” in the coming months.

The proposed transactions value Grab at an initial pro-forma equity value of approximately US$39.6 billion at a PIPE size of more than US$4.0 billion and will provide Grab with approximately US$4.5 billion in cash proceeds. Read more…..

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