The stock market is on the verge of welcoming its biggest SPAC (special purpose acquisition company) deal to date.
This time, the company will come from our own backyard.
Grab, one of Asia’s largest private companies, is going public via a merger with a SPAC, Altimeter Growth.
The ride-hailing cum food delivery company is expected to raise about US$4.5 billion from this deal.
With this merger, Grab is expected to be valued at close to US$39.6 billion.
Home-grown companies are emerging from their shell.
Sea Limited (NYSE: SE), the owner of the popular e-commerce site Shopee, was valued at just US$4 billion during its IPO in October 2017.
Since then, it has grown more than 30-fold into a US$125 billion behemoth.
With Grab’s successful listing, investors now have a chance to own a piece of Asia’s most valuable ride-hailing business.
The opportunities can only grow from here.
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