Money Makers Mentor

Ride-Hailing Service GRAB to go Public Through SPAC Merger

Southeast Asia’s ride-hailing giant Grab Holdings Inc is all set to go public in the US. The deal was announced on April 13th when the company decided to merge with a blank check company, Altimeter Growth Corp. Through this deal, the company will have a market value of $39.6 billion. Also, this deal would make Grab the first Southeast Asian unicorn start-up to go public through a SPAC. In the following months, the company’s stock will be traded on NASDAQ under the symbol, GRAB.

Merger details

With a market value of $39.6 billion, this Singapore-based company is all set to merge with Altimeter Growth Corp, which is a Special Purpose Acquisition Company of Altimeter Capital Management. This also boasts of being the largest blank check merger to date. Additionally, Grab will acquire $4…

Leave A Reply

Your email address will not be published.