Grab’s Nasdaq debut to set tone for South-East Asian tech listings

CEO Tan, 39, expanded Grab into a regional operation with a range of services, after launching as a taxi app in Malaysia in 2012. It later moved its headquarters to Singapore. — Reuters

SINGAPORE: Grab, South-East Asia’s biggest ride-hailing and delivery firm, makes its market debut on Dec 2 after a record US$40bil (RM169.18bil) merger with a special purpose acquisition company (SPAC), in a listing that will set the tone for other regional offerings.

The backdoor listing on Nasdaq marks the high point for the nine-year-old Singapore company that began as a ride-hailing app and now operates across 465 cities in eight countries, offering food deliveries, payments, insurance and investment products.