By Breakingviews
Silicon Valley investor Altimeter Capital (AGC) has sketched a handy roadmap for speeding hot Asian technology companies to overseas public markets. Southeast Asian ride-hailing-to-delivery-to-payments group Grab (GRAB) is listing
Grab's $40 Billion Debut Comes With Twin Airbags
Summary
- Southeast Asian ride-hailing-to-delivery-to-payments group Grab is listing in New York via a combination with a blank cheque firm.
- Altimeter is contributing almost one-fifth of the placement and will backstop any redemptions from the SPAC to the tune of $500 million.
- By Grab's own EBITDA yardstick, its ride-hailing business is already profitable.
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| Symbol | Last Price | % Chg |
|---|---|---|
| GRAB | - | - |
| Grab Holdings Limited | ||