Grab, the southeast Asian ride-hailing app-turned-fintech, is believed to be deep in talks to go public through a New York-listed special purpose acquisition company (Spac).
The deal is potentially the biggest of its kind so far – and bad news for Singapore Exchange (SGX).
Grab declined to comment on Monday about the rumours linking it to a Spac run by Altimeter Capital Management, a technology-focused investment firm based in Silicon Valley.
But it is understood that the deal would value Grab at around $40 billion and would involve the raising of around $3 billion through a private investment in public equity (Pipe) structure.
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