Grab to go public in U.S. through nearly $40 billion merger deal

Economy

Southeast Asian ride-hailing, food delivery and payments firm Grab Holdings Inc. said Tuesday that it will merge with U.S.-based Altimeter Growth Capital and list on the U.S. stock market. According to the company, the proposed transactions value Grab at an initial equity value of about US$39.6 billion and will provide it with about US$4.5 billion in cash proceeds. That would make it the largest-ever U.S. equity offering by a Southeast Asian company. The two firms' securities are expected to be traded on NASDAQ under the symbol "GRAB" in the coming months. Japanese companies such as SoftBank G...

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