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AP National Business

Grab goes public on Nasdaq in $40 bln SPAC deal

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Published 9:22 AM

By ZEN SOO
Associated Press

HONG KONG (AP) — Southeast Asia’s largest ride-hailing company Grab made its market debut Thursday, following a $40 billion merger in a special purpose acquisition company deal. The Singapore-based company Nasdaq debut came more than seven months after it announced plans to merge with U.S.-based Altimeter Growth Corp in a SPAC. The company began trading under the ticker “GRAB.” Grab’s listing is the largest U.S. listing by a Southeast Asian company, allowing Grab to raise $4.5 billion in cash proceeds.

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