JAKARTA, April 12 (Bloomberg): Grab Holdings Inc and Traveloka are poised to become public companies in coming months, kickstarting a coming-out party for South-East Asia’s long-overlooked internet scene.
Grab will this week unveil a listing via a US blank-check company that’s drawn backers from T. Rowe Price to Temasek Holdings Pte and values the ride-hailing giant at more than US$34 billion, people familiar with the matter said, in the largest-ever deal of its kind.
Indonesia’s Traveloka will follow suit, listing at a valuation of about US$5 billion via a special purpose acquisition company backed by billionaires Richard Li and Peter Thiel, other people with knowledge of the matter said. Terms on both deals could still change, the people said.
Grab’s $34 Billion Plan to Go Public Puts Southeast Asia Tech on the Map - The ride-hailing giant will this week unveil a listing via a U.S. blank-check company that values it at more than $34 billion, sources say, with Indonesia’s Traveloka to follow