, in an exercise that could raise at least US$2 billion. It joins a handful of other prominent regional startups aiming for the public markets.
Most recently valued at a reported US$14 billion, Grab is present in eight South-east Asian markets, with verticals including ride-hailing, food delivery and financial services under Grab Financial Group. The firm also clinched a full digital banking licence in Singapore in partnership with Singtel.reported on Monday, citing sources. Nevertheless, this adds to the growing buzz around potential tech IPOs among a maturing crop of venture-backed South-east Asian firms.
These aspirants may be taking a cue from New York-listed Sea, whose shares have been on a tear amid the pandemic. Over the past year, Sea’s share price has grown over four times to US$226.05 as at Jan 5. The firm also recently raised US$2.57 billion in an upsized stock offering.
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