— Grab Holdings Inc. Chief Executive Officer Anthony Tan said he’s confident the merger of the ride-hailing and food-delivery giant and a U.S. blank-cheque company will be completed by year-end, following a delay caused by a review of its financials.
Grab, which operates across Southeast Asia, is the latest company to be affected by intensifying scrutiny from U.S. financial regulators on deals involving SPACs. After a frenzy of listings, the SPAC market has been hit by a crackdown by the U.S. Securities and Exchange Commission as well as lawsuits from shareholders, falling stock prices and delays in planned listings.
Tan, 39, declined to comment when asked if he expects any major restatements by Grab following the financial audit. He didn’t rule out a secondary listing in Grab’s home market of Singapore, saying the company considers all options. But he said Grab is “laser-focused” on the Nasdaq listing via the Altimeter merger that values the combination at about US$40 billion.The CEO said Grab considered a traditional initial public offering, but opted for a deal with Brad Gerstner’s Altimeter after seeing the commitment by the SPAC partner. Altimeter has committed to a three-year lock-up period.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UK's Johnson set to announce delay to end of COVID-19 restrictionsBritish Prime Minister Boris Johnson is expected to announce on Monday that the end of COVID-19 restrictions will be delayed following concern ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: BusinessTimes - 🏆 15. / 51 Read more »
Socialist Castillo close to victory in Peru as few votes remain to be countedLIMA: Peruvian socialist candidate Pedro Castillo was close to being named the Andean country's next president as the vote count neared an end, ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
UK's Johnson set to announce delay to end of COVID restrictionsBritish Prime Minister Boris Johnson is expected to announce on Monday that the end of COVID-19 restrictions will be delayed following concern about the rapid rise of infections of the Delta variant of the coronavirus. Under a roadmap outlined by Johnson back in February, the government signalled all social restrictions imposed to control the spread of the disease would be lifted 'no earlier' than June 21, when pubs, clubs and other hospitality venues could fully reopen. But, in recent weeks there has been a fast growth again in the number of new cases caused by the Delta variant, first discovered in India, which health officials believe to be 60% more transmissible than the previous dominant strain and scientists warn could trigger a third wave of infections.
Source: YahooSG - 🏆 3. / 71 Read more »
Israel's Knesset to vote on new government, end Netanyahu's record reignIsraeli Prime Minister Benjamin Netanyahu's 12-year hold on power was set to end on Sunday when parliament votes on a new government, ushering in ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Israel swears in new coalition, ending Netanyahu's long ruleIsrael’s parliament on Sunday (Jun 13) narrowly approved a new coalition government, ending the historic 12-year rule of Prime Minister Benjamin ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »