Grab starts trading on Nasdaq Thursday: Report
Published on: Wednesday, December 01, 2021
The merger valued the Singapore-based company at US$40 billion. (Photo: Bernama)
Kota Kinabalu: Malaysia-grown Grab Holdings will start trading on the Nasdaq on Thursday, Forbes reported.
Altimeter Growth Corp shareholders earlier approved the merger with Southeast Asia's superapp, completing one of the world's largest deals involving a special purpose acquisition company or spac.
ADVERTISEMENT The transaction, approved on Tuesday and which valued the Singapore-based company at US$40 billion (RM168.10 billion), will close Wednesday subject to the satisfaction or waiver of customary closing conditions, Altimeter was reported as saying.
Previously, Grab said it was looking to raise US$4.5 billion (RM18.91) from the listing.
Malaysians Anthony Tan and Tan Hooi Ling founded Grab in 2012 as a taxi-booking app, which has since grown to become a superapp that offers other services such as ride-hailing, food and grocery deliveries as well as digital financial services.
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