Singapore’s Grab to list in US in $40bn SPAC deal – MENAFN.COM

Singapore’s Grab to list in US in $40bn SPAC deal – MENAFN.COM

A Grab Holdings driver waits for an order in the Bukit Bintang district of Kuala Lumpur. Southeast Asia%E2%80%99s most valuable startup is going public in the US through the largest-ever merger with a blank-check company. (MENAFN - Gulf Times) Grab Holdings Inc, Southeast Asia's most valuable startup, is going public in the US through the largest-ever merger with a blank-check company. The Singapore-based startup is set to have a market value of about $39. 6bn after the combination with Altimeter Growth Corp, the special purpose acquisition company of Brad Gerstner's Altimeter Capital Management, the firms said in a statement on Tuesday. Grab is raising more than $4bn from investors including BlackRock Inc, Fidelity International and T Rowe Price Group Inc as part of the biggest US equity offering by a Southeast Asian company. The deal would make the ride-hailing and food-delivery giant the first Southeast Asian tech unicorn to go public through a SPAC and give it funds to expand. Grab is trying to take advantage of a US-led SPAC listing boom even though it's showing signs of slowing amid increased scrutiny by regulators. 'This is definitely one of the best Internet companies, Gerstner said in an interview. 'The runway