SINGAPORE: Grab Holdings Inc is exploring going public in the US through a merger with a blank-check company as the Southeast Asian ride-hailing and delivery giant seeks to expedite its listing process, according to people familiar with the matter.
Still, a US listing via a traditional IPO isn’t off the table, said the people, who asked not to be identified as the discussions are private. Merging with a Spac, a shell company whose sponsors raise money from investors in order to buy a private company and give it a berth on a public exchange, would allow Grab – Southeast Asia’s most valuable start-up backed by SoftBank Group Corp – to accelerate its listing process.
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