Grab’s IPO could raise at least US$2 billion , one of the sources said. — Reuters pic
“The market is good and the business is doing better than before. This should work well for public markets,” he said. Grab’s total group net revenue jumped by about 70 per cent year on year in 2020 and has recovered to be comfortably above pre-pandemic levels. Grab has said its ride-hailing business is breaking even in all its operating markets, including Indonesia, the biggest. It expects its food delivery business to break even by the end of 2021.Gojek and Indonesian e-commerce leader Tokopedia are in advanced talks for a US$18 billion merger ahead of a potential dual listing in Jakarta and the United States, Reuters reported this month.
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