The Week That Was - Grab, MRT3, Minda Global, Comfort Gloves,

TheStar Fri, Apr 16, 2021 10:20am - 3 years View Original


(FILES) In this file photo a Vietnamese Grab motorbike-taxi rider drives on the Long Bein bridge in Hanoi on November 23,2018. - The Asian ride-hailing firm Grab said on April 13,2021 that it plans a US listing in partnership with Altimeter Growth Corporation in an operation that values Grab at $39.6 billion (33.3 billion euros).The listing, planned "in the coming months" on the Nasdaq exchange, would be the biggest market launch to date via a Special Purpose Acquisition Company (SPAC). (Photo by Manan VATSYAYANA/ AFP)

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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