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Singapore ridesharing service Grab in talks to go public in SGD 53 bn deal: Media reports

According to media reports, Singapore ridesharing company Grab Holdings Inc is in talks to go public through a merger with a special purpose acquisition company that could value the ride-hailing giant at nearly SGD 53.8 billion (USD 40 billion). 

Grab is expected to raise between USD 3 billion and USD 4 billion from private investors, according to the report.
Grab is expected to raise between USD 3 billion and USD 4 billion from private investors, according to the report. Photo courtesy: Flickr

The Wall Street Journal had reported that the SoftBank-backed firm was in talks with Altimeter Capital Management LP. 

Grab is expected to raise between USD 3 billion and USD 4 billion from private investors, according to the report. Reuters first reported in January, citing sources, that Singapore-based Grab was exploring a listing in the United States.

Silicon Valley-based venture capital firm Altimeter has backed two special purpose acquisition companies (SPACs) - Altimeter Growth Corp and Altimeter Growth Corp 2. SPACs are shell companies that raise funds through an initial public offering to take a private company public.

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CtoI News Desk
CtoI News Desk – CtoI

Singapore-headquartered online media company targeting Indians Diaspora across Singapore, US, UK and UAE. Connected to India covers developments around NRIs. Cover arts, political, sports, finance, entrepreneurship, business, movies, dramas, entertainment and other stories for and about Indians living abroad.

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