In the largest deal of its kind, Southeast Asia’s most valuable startup, Grab Holdings, Inc., announced that it will go public in the United States of America through a merger with private-purpose acquisition company Altimeter Growth Corp.
The market value of the Singapore-based startup is expected to be about $ 39.6 billion, after the merger with SPAC, Altimeter Capital Management, a subsidiary of Brad Gerstner, said. The two companies mentioned in a statement today, Tuesday.
Grab recently raised more than $ 4 billion from investors including BlackRock Inc, Fidelity International and T. Rowe Price Group Inc. As part of the largest public offering of shares in the United States by a company in Southeast Asia.
Grab Holdings Inc., commonly known as Grab, is a Singaporean multinational ride-hailing company headquartered in Queenstown, Singapore. In addition to transportation, the company offers food delivery and digital payments services via a mobile app.www.grab.com