Headline ‘Grab-bing’ listing
GRAB, the ride-hailing firm that started its business in Malaysia nine years ago, announced a plan on Tuesday to list on Nasdaq in New York. The US$40bil deal involved a merger with special purpose acquisition company Altimeter Growth Corp.
The transaction will be the world’s largest merger involving a so-called blank-cheque company. The accompanying US$4bil fundraising from global investors is also set to be the biggest ever US equity offering by a South-East Asian company.
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