Singapore-based Grab to list on Nasdaq via S$53b merger with US outfit | Malay Mail

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Singapore-based Grab to list on Nasdaq via S$53b merger with US outfit

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.

 

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