• 330
  • 45
  • 3

Grab Heads for Public Market After Investors Approve SPAC Merger

Tiger Newspress2021-12-01

Altimeter Growth Corp. shareholders approved the previously announced business combination with Grab, Southeast Asia's leading superapp, at an extraordinary meeting of shareholders today.

Class A common stock is expected to begin trading on the Nasdaq on December 2, 2021 under the ticker symbol "GRAB."

Shares of Altimeter Growth Corporation fell 5.8 per cent to close at US$12.72 on Tuesday (Nov 30), after the proposal passed at an extraordinary general meeting. It rebounded slightly in post-market trading.Investors that back a SPAC (special purpose acquisition company) have a chance to redeem their bets at the issue price before the merger is completed. In Grab's case, 0.02 per cent of shares were redeemed, Altimeter said in a statement. Grab's redemption rate could be considered low compared to its US peers, where interest in SPAC deals have sizzled out of late.

As a result of the transaction, Grab will receive a US$4.5 billion cash injection, which includes US$4 billion in private investment in public equity arrangement, from the SPAC promoted by Silicon Valley investor Brad Gerstner.

But the road to public markets has been rocky. After Grab unveiled plans to merge with Altimeter Capital Management’s SPAC in a $40 billion deal, they had to postpone the closing to work on an audit of the past three years’ accounts. Meanwhile, regulatory scrutiny of SPACs and a resurgence of fears about Covid-19 infections threatened to derail the agreement.

Singapore-based Grab, led by Chief Executive Officer Anthony Tan, had long been viewed as a marquee company in Southeast Asia and a promising candidate to go public. Tan and co-founder Hooi Ling Tan, backed by SoftBank Group Corp., fought off aggressive competition to become one of the largest ride-hailing and delivery companies in the region -- and the most valuable startup.

免责声明:本文观点仅代表作者个人观点,不构成本平台的投资建议,本平台不对文章信息准确性、完整性和及时性做出任何保证,亦不对因使用或信赖文章信息引发的任何损失承担责任。

举报

评论45

  • Khoo12
    ·2021-12-01
    Hmmm..
    回复
    举报
  • Ah Seng
    ·2021-12-01
    So how do we buy grab shares? Wait for IPO tmr or we can just buy under AGC ticker? 
    回复
    举报
    收起
    • HongHong14
      yes
      2021-12-01
      回复
      举报
    • F.I.R.E
      buy now and thank me tomorrow
      2021-12-01
      回复
      举报
    • Sherms_tg
      Can buy AGC. they will convert tIcker to grab
      2021-12-01
      回复
      举报
    查看更多 1 条评论
  • Venture118f
    ·2021-12-01
    So is Altimeter stay traded ??? Do u need to transfer share into Grab ??? 😵‍💫😵‍💫
    回复
    举报
  • Jessicalim
    ·2021-12-01
    Hmmm. Will have the wait and see approach
    回复
    举报
    收起
    • koolgal
      Thanks
      2021-12-18
      回复
      举报
  • freedom 55
    ·2021-12-01
    🦾
    回复
    举报
  • HWChua1961
    ·2021-12-01
    Owners fa fa 
    回复
    举报
  • ming22
    ·2021-12-01
    Finally... 
    回复
    举报
  • koolgal
    ·2021-12-01
    Tomorrow is DDay for Grab IPO!  How exciting and will the price shoot up like a rocket tomorrow?  Watch out Uber, here comes Grab! Grab, made in Singapore, going global! 🚀🚀🚀🌙🌙🌙
    回复
    举报
    收起
    • koolgal
      Thanks for your feedback. Appreciate it.
      2021-12-03
      回复
      举报
    • 宝藏女孩不接受反驳
      Defo not buy! Lousy services and keep raising fees. Even top up credit card also charge admin fee 想钱想疯了[打脸]
      2021-12-02
      回复
      举报
    • koolgal回复Venus_M
      Thanks
      2021-12-02
      回复
      举报
    查看更多 2 条评论
  • Kimmy23
    ·2021-12-01
    A good company that mimics China applications like PDD, Didi and Wechat together. The next thing isincorporate chat function into it. Aha! Definitely a stock worth having for the next few years. 
    回复
    举报
  • YCLim
    ·2021-12-01
    @JKGan@EugeneLimYCGrab is here
    回复
    举报
    收起
  • Eaglewings
    ·2021-12-01
    GRAB will be a key tech player in SEA. It will gain more market share across multiple domains. Time to accumulate for long term growth 
    回复
    举报
  • Huat Huat Al
    ·2021-12-01
    Huat huat all
    回复
    举报
  • 虾仁蛋炒饭
    ·2021-12-01
    Grab has been making yearly losses. Interesting to see how this plays out. 
    回复
    举报
    收起
    • phozt
      Rivian, Lucid are also making losses, but are at sky high valuation. I would expect grab to meet or exceed uber valuation.
      2021-12-01
      回复
      举报
  • Jahme
    ·2021-12-01
    🤩 
    回复
    举报
    收起
    • Jahme
      [Sly]
      2021-12-01
      回复
      举报
  • Dazz
    ·2021-12-01
    Interesting to see how it goes. The business is not fantastic given the competition and the company has been making losses yearly.
    回复
    举报
    收起
    • Dazz
      agreed, it's definitely not a moat company. but market can be irrational so let's see how it opens tomorrow.
      2021-12-01
      回复
      举报
    • Mattsailor
      Frankly, I don't understand how their business can be profitable.  Do your own DD before investing.
      2021-12-01
      回复
      举报
  • hkwan
    ·2021-12-01
    lose almost 1B in 1 Q but can be so valued. mkt is strange
    回复
    举报
    收起
    • Venus_M
      love is in the eyes of its beholder [LOL]
      2021-12-01
      回复
      举报
  • hkwan
    ·2021-12-01
    oh my
    回复
    举报
  • kino318
    ·2021-12-01
    Wow ..
    回复
    举报
    收起
    • hkwan
      yes
      2021-12-01
      回复
      举报
  • Shirleyllc
    ·2021-12-01
    Yea 
    回复
    举报
    收起
  • Sohws
    ·2021-12-01
    Like pls
    回复
    举报
    收起
    • Stefeee
      ok
      2021-12-01
      回复
      举报
    • Ahhs
      Can
      2021-12-01
      回复
      举报
    • MarcO
      sure
      2021-12-01
      回复
      举报
 
 
 
 

热议股票

 
 
 
 
 

7x24