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Grab to list in US via $40 bln merger with Altimeter Growth

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HONG KONG – Southeast Asia’s largest ride-hailing company, Grab Holdings, said Tuesday that it plans to merge with U.S.-based Altimeter Growth Capital in a deal that would value it at nearly $40 billion in preparation for an initial public offering in the U.S.

That would make it the largest SPAC merger ever, more than double current record-holder United Wholesale Mortgage’s $16 billion merger in January.

Grab’s agreement to list via a special purpose acquisition company, or SPAC — a shell company set up with the aim of raising money through an IPO to acquire another company — already has drawn more than $4 billion in private investment in public equity from a group of investors including Fidelity International and Singapore's Temasek

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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