GRAB plans to go public in December 2021

Link copied

13:04 | 24 November 2021

GRAB plans to go public in December 2021

Grab Holdings, which is Southeast Asia’s largest ride-sharing and food delivery company, could go public on the U.S. exchange in early December, subject to shareholder approval of a merger with a special purpose company (SPAC).

Altimeter Growth Corp., which is being considered as a merger partner, will hold a special meeting Nov. 30 to seek shareholder approval for the deal. A special meeting of Grab’s shareholders will be held on the same day, the newspaper said. Subject to the approval of both shareholder groups, Grab will be able to complete the merger and debut on the NASDAQ.

According to the paper’s sources, Grab will receive $4.5 billion as a result of the deal, including a private equity investment (PIPE) of $4 billion.

Grab CEO Anthony Tan will become chairman and CEO of the new company formed by the merger. In addition, the company will have four independent directors, which will include Uber Technologies CEO Dara Khosrowshahi.

The listing of Grab, a prominent tech startup in Southeast Asia, will give U.S. investors a new opportunity to invest in a fast-growing region that is still poorly represented on the global stock market, reports Nikkei Asia.

Grab’s market valuation is generating a lot of interest from the market, as it could be a benchmark for other Southeast Asian startups planning to go public in the U.S. in the near future. In April, when the deal was announced, Altimeter Growth valued the Singapore-based company at nearly $40 billion.

Grab, whose investors include SoftBank Group Corp. and Mitsubishi UFJ Financial Group, has expanded rapidly since its founding in 2012 in Malaysia. The company was originally a passenger search app and has grown into the region’s most expensive startup, valued at more than $16 billion.

Among other things, Grab also offers financial services and was licensed as a digital bank in Singapore. The company said its ride-hailing business is profitable in all operating markets, including its largest in Indonesia. In addition, the company expects its food delivery business to break even by the end of the year.

Follow the information in a format that is convenient for you: Telegram, Facebook, YouTube.

Uncategorized

19:11 | Apr 05, 2024

Toncoin enters top 10 crypto by market capitalization, overtakes Avalanche

Toncoin, The Open Network’s native cryptocurrency token, has once again entered the list of the 10 most significant coins by […]

Uncategorized

16:21 | Mar 04, 2024

Bitcoin Tops $65K as Bullish Bets Climb to Record High

The largest cryptocurrency is now just 5% away from its 2021 high in U.S. dollar terms, having already reached records […]

Hereby "Global Venture Partners s.r.o." notifies that it carries out its activities in accordance with paragraph 1 of article 15, the law on investment companies and investment funds of 19.06.2019. Listed in the ZISIF § 15 para. 1 asset management list managed by the CNB in accordance with § 596 (1) CRR. (F) ZISIF.

IČO: 08241473. LEI: 5493003MKEWYLZ837883...
This information on the site is not an individual investment recommendation, and the financial instruments or transactions mentioned in this material may not correspond to your investment profile, financial situation, investment experience, investment goals. Determining the compliance of a financial instrument or transaction with investment objectives, investment horizon and risk tolerance is the task of the investor
Venture fund Global Venture Partners s.r.o. is not responsible for possible losses of the investor in case of investing in the financial instruments mentioned in this material and does not recommend using the specified information as the only source of information when making an investment decision.
* The Venture Fund does not provide guarantees regarding the reliability and accuracy of the information provided, none of the assumptions contained in this material can be interpreted as a guarantee of investment reliability, income stability and possible benefits associated with management methods or the choice of specific financial instruments. The value of investment products may increase and decrease, the results of investing in the past do not determine future income, the company does not guarantee the profitability of investments in investment funds. All information about the profitability (value gain) of the product managed by Global Venture Partners s.r.o. are quoted excluding commissions and taxes. Charging a commission will reduce the return on investment in investment products. Before purchasing an investment product, you should carefully read the rules of trust management for this product. Services for transactions with foreign securities are available to persons who are qualified investors in accordance with applicable law and are performed in accordance with the restrictions established by applicable law.

Show

Hide