Grab’s US$34bil SPAC deal puts South-East Asia tech on the map

JAKARTA, April 12 (Bloomberg): Grab Holdings Inc and Traveloka are poised to become public companies in coming months, kickstarting a coming-out party for South-East Asia’s long-overlooked internet scene.

Grab will this week unveil a listing via a US blank-check company that’s drawn backers from T. Rowe Price to Temasek Holdings Pte and values the ride-hailing giant at more than US$34 billion, people familiar with the matter said, in the largest-ever deal of its kind.