Singapore's Grab to go public in world's biggest $40 billion SPAC merger


FILE PHOTO: A Grab logo is pictured at the Money 20/20 Asia Fintech Trade Show in Singapore March 21, 2019. Picture taken March 21, 2019. REUTERS/Anshuman Daga/File Photo

SINGAPORE (Reuters) -Grab Holdings, the largest ride-hailing and food delivery firm in Southeast Asia, clinched a merger on Tuesday with special-purpose acquisition company Altimeter Growth Corp securing a valuation of nearly $40 billion and paving the way for a coveted U.S. listing.

The merger, the biggest blank-check company deal ever, underscores the frenzy on Wall Street as shell firms have raised $99 billion in the United States so far this year after a record $83 billion in 2020.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 53
Cxense type: NA
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

   

Next In Tech News

Italy's De Nora teams up with GES on hydrogen battery project
Elon Musk, Twitter have yet to reach deal to end court battle -sources
As EV sales grow, battle over U.S. road weight limits heats up
Spotify acquires firm that detects harmful content
Lawmakers press U.S. Commerce for tougher checks on semiconductor chip subsidies
MENA emerges as world's fastest-growing crypto adopter -study
Dad of two dies after GPS directs him to washed-away bridge, North Carolina family says
Video game maker CD Projekt rises after strategy update, share buyback
Apple will be forced to use new charger after EU votes for USB-C
US Senators push to reform police’s cellphone tracking tools

Others Also Read