Grab is a leading super-app in Southeast Asia (SEA), where it’s services are highly relied on. You can book a ride, order food delivery and make payments through its digital wallet, all in one app. It has announced plans to go public in the US (Nasdaq), in partnership with a Special Purpose Acquisition Company (SPAC) Altimeter Growth Corp. Upon completion of the merger, the ticker will change from AGC to GRAB.
h3 data-css=”tve-u-178e8f85351″ style=”” class=””>How does Grab’s SPAC IPO work? To understand how the whole process works, we need to understand what exactly is a SPAC. SPAC is a “blank-cheque company” with no commercial operations. It is formed with the sole purpose of raising funds to acquire a company, enabling it to be listed on an exchange. A merger through SPAC enables GRAB to by-pass bureaucratic red tapes in traditional IPO, which significantly reduces the time it takes for