FILE PHOTO: A Grab motorbike helmet is displayed during Grab's fifth anniversary news conference in Singapore June 6, 2017. REUTERS/Edgar Su
SINGAPORE (Reuters) - Singapore's Grab more than doubled its valuation to $40 billion in about a year as part of the world's largest SPAC deal, but maintaining that level after its U.S. debut will be a test not only for investors but also for firms eyeing similar listings.
Earlier this month, Southeast Asia's biggest ride-hailing and delivery firm, agreed to merge with a special purpose acquisition company (SPAC) backed by Silicon Valley investor Altimeter Capital Management. [L1N2M609X]
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