Merging with a SPAC, a shell company whose sponsors raise money from investors in order to buy a private company and give it a berth on a public exchange, would allow Grab – South-East Asia’s most valuable startup backed by SoftBank Group Corp – to accelerate its listing process.
SINGAPORE: Grab Holdings Inc is exploring going public in the US through a merger with a blank-cheque company as the South-East Asian ride-hailing and delivery giant seeks to expedite its listing process, according to people familiar with the matter.
JPMorgan Chase & Co and Morgan Stanley, which are already advising Grab on its initial public offering (IPO) plans, are working with the startup to identify special-purpose acquisition companies (SPACs) that it could combine with, the people said.
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