By Syndicated Content
By Anshuman Daga
SINGAPORE (Reuters) â Singaporeâs Grab more than doubled its valuation to $40 billion in about a year as part of the worldâs largest SPAC deal, but maintaining that level after its U.S. debut will be a test not only for investors but also for firms eyeing similar listings.
Earlier this month, Southeast Asiaâs biggest ride-hailing and delivery firm, agreed to merge with a special purpose acquisition company (SPAC) backed by Silicon Valley investor Altimeter Capital Management. [L1N2M609X]
The backdoor Nasdaq listing will see nine-year-old Grab raise over $4 billion, a record U.S. offering from Southeast Asia.
Singapore s Grab more than doubled its valuation to $40 billion in about a year as part of the world s largest SPAC deal, but maintaining that level after its U.S. debut will be a test not only for investors but also for firms eyeing similar listings. Earlier this month, Southeast Asia s biggest ride-hailing and delivery firm, agreed to merge with a special purpose acquisition company (SPAC) backed by Silicon Valley investor Altimeter Capital Management. The backdoor Nasdaq listing will see nine-year-old Grab raise over $4 billion, a record U.S. offering from Southeast Asia. Private fundraisings involve fewer investors who often bankroll big valuations. Analysts are now scrutinising whether Grab can justify its valuations by turbocharging growth in its existing businesses and successfully foraying into digital banking.
April 28, 2021
Singapore’s Grab more than doubled its valuation to $40 billion in about a year as part of the world’s largest SPAC deal, but maintaining that level after its U.S. debut will be a test not only for investors but also for firms eyeing similar listings.
Earlier this month, Southeast Asia’s biggest ride-hailing and delivery firm, agreed to merge with a special purpose acquisition company (SPAC) backed by Silicon Valley investor Altimeter Capital Management.
The backdoor Nasdaq listing will see nine-year-old Grab raise over $4 billion, a record U.S. offering from Southeast Asia.
Private fundraisings involve fewer investors who often bankroll big valuations. Analysts are now scrutinising whether Grab can justify its valuations by turbocharging growth in its existing businesses and successfully foraying into digital banking.
Article content
SINGAPORE Singapore’s Grab more than doubled its valuation to $40 billion in about a year as part of the world’s largest SPAC deal, but maintaining that level after its U.S. debut will be a test not only for investors but also for firms eyeing similar listings.
Earlier this month, Southeast Asia’s biggest ride-hailing and delivery firm, agreed to merge with a special purpose acquisition company (SPAC) backed by Silicon Valley investor Altimeter Capital Management.
We apologize, but this video has failed to load.
Try refreshing your browser, or Grab s Nasdaq debut to test its $40 bln valuation, set roadmap for SPAC hopefuls Back to video