Grab heads to Nasdaq with $40bn Spac M&A

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By Rashmi Kumar
14 Apr 2021

Southeast Asian tech company Grab, which offers everything from ride hailing and food delivery services to digital wallet payments, is planning to go public on the Nasdaq by merging with Altimeter Group Corp, a special purpose acquisition company (Spac).

It will be the largest ever US equity offering by a southeast Asian company, Grab said on Tuesday. The transaction will give Grab an equity value of about $39.6bn, and the firm will raise about $4.5bn in total.

As is the case with many Spac acquisitions of target ...

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