News Formal

Grab to go public in a SPAC merger valuing company at nearly $40 billion

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 97%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Singapore's Grab Holdings to go public in a SPAC deal worth $39.6 billion

Singapore-based Grab Holdings Inc. announced Tuesday a deal to go public through a merger with special purpose acquisition company Altimeter Growth Corp. AGC, +1.45% in a deal that values Grab at $39.6 billion. Shares of Altimeter Growth surged 7.2% in premarket trading. The deal will provide Grab, the ride-hailing, delivery and financial services company, with proceeds of $4.5 billion in cash, and is expected to be the largest-ever U.S. equity offering by a company in Southeast Asia.

After the deal closes, which is expected to occur in the coming months, the combined company is expected to list on the Nasdaq under the ticker symbol"GRAB." In 2020, Grab recorded gross merchandise value of $12.5 billion to surpass pre-pandemic levels."Our diversified superapp strategy helped our driver-partners pivot to deliveries, and enabled us to deliver growth while improving profitability," said Grab co-Founder Anthony Tan.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.

UNHCR and IOM in Montenegro are unable to protect us as a refugee from the state. They do not want to send us because they protect the interests of the state.Trying to deport. Euro Union does not give reaction. Besides UNHCR,which organization protects refugees from politics ?

Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 3. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

SPAC Insiders Can Make Millions Even When the Company They Take Public StrugglesMany individual investors are taking losses as SPAC shares fall, but the creators and insiders of the blank-check companies often still make millions through unique incentives. People need a little more good news now. Keep it coming, keep scaring retail away When it feels like it's already here
Källa: WSJ - 🏆 98. / 63 Läs mer »

German Air Taxi Startup Lilium To List In $3.3 Billion SPAC MergerMunich-based Lilium will list through a merger with Qell Acquisition Corp, a blank-check company, to raise funds to develop its fleet of air taxis.
Källa: Forbes - 🏆 394. / 53 Läs mer »