Grab, Southeast Asia’s biggest ride-hailing & delivery company went public via a USD 40 billion special purpose acquisition company (SPAC) merger with Altimeter Growth, which broke records as the largest blank-cheque merger. However, the stock fell sharply by 21% on its first day of trading.
More Details🧐 The listing on Nasdaq marks the high point for the nine-year-old Singapore company that started as a ride-hailing app. The company has 187 million users in eight countries, making it one of the most dominant super apps in Asia, offering rides, food delivery, & now, financial services.