Wednesday, 14 Apr 2021 07:56 AM MYT
The public listing will help Grab raise cash proceeds of about US$4.5 billion. Out of these, about US$4 billion has already been committed in a deal where its shares are sold to private investors.Grab started as a ride-hailing mobile application before expanding into food delivery and digital payment services.
Altimeter Growth Corp is sponsored by technology-focused investment firm Altimeter Capital Management.report on its upcoming public listing. “This is a milestone in our journey to open up access for everyone to benefit from the digital economy. This is even more critical as our region recovers from Covid-19,” he added.
The company decided to go public after registering strong financial performance last year, despite the challenges brought about by the Covid-19 pandemic.