Grab Holdings, said Tuesday, April 13,2021 that it plans to merge with U.S.-based Altimeter Growth Capital in a deal that would value it at nearly $40 billion in preparation for an initial public offering in the U.S. - AP
Listing on the Singapore Exchange would enable Grab to have an investor base close to where its regional business is based, the people said, potentially offering its customers, drivers and merchant partners easier access to trade its shares. The potential Singapore listing plans come after Grab this week agreed a US$40bil merger with Altimeter Growth Corp, a special purpose acquisition company , making this the world’s biggest SPAC deal.
The company with the top valuation on the Singapore bourse is bank DBS Group Ltd, currently worth about S$74bil by capitalisation.One of the sources said that while Grab has sufficient cash reserves and could end up raising only a small amount on SGX, a listing would mark a big win for the exchange.
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