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

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 ?

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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
Source: WSJ - 🏆 98. / 63 Read more »

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.
Source: Forbes - 🏆 394. / 53 Read more »