Grab seeks US listing with $40 billion valuation
The Singapore-based firm started as a ride-hailing app and is one of South East Asia’s best known tech companies,
Grab is reportedly in talks about a stock market listing that could value the company at $40 billion.
The Singapore-based firm started as a ride-hailing app and is one of South East Asia's best known tech companies, reports the BBC.
Grab is discussing a deal with a special-purpose acquisition company (Spac), the Wall Street Journal reported.
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Spacs are set up with the purpose of buying a private firm to merge with and then take public on the stock market.Spacs, also called "blank cheque companies", have seen a surge of popularity in recent years, and are seen as a faster route to taking a company public with less scrutiny.
The parties could reportedly announce a deal in the next few weeks, with the goal of listing in the US.
Grab is expected to raise between $3bn and $4bn from private investors, according to the report.
