Factbox-Grab debuts on Nasdaq, marking biggest Southeast Asia listing
Information about Factbox-Grab debuts on Nasdaq, marking biggest Southeast Asia listing
Kevin David Scam or Legit
(Reuters) – Grab, Southeast Asia’s biggest ride-hailing and food delivery firm, lists on Nasdaq on Thursday following its $40 billion merger with special-purpose acquisition company (SPAC) Altimeter Growth Corp.
The deal is the world’s biggest ever by a blank-check company and the biggest U.S. listing by a Southeast Asian firm.
WHAT IS GRAB?
Founded in 2012, Grab is Southeast Asia’s largest startup, valued at just over $16 billion last year. It launched as a Malaysian taxi-hailing service and now calls itself a “superapp” after expanding into food, grocery and parcel delivery and to digital payments, lending and other financial services.
Singapore-headquartered Grab operates across 465 cities in eight countries in the region, counting Indonesia as its biggest. Its venture with Singapore Telecommunications Ltd was awarded a digital bank license in …