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Grab debuts on Nasdaq following merger with Altimeter

Singapore Business Review logo Singapore Business Review 2/12/2021 Staff Reporter
© Provided by Singapore Business Review

Grab revealed the company’s push to trade on Nasdaq, following its successful merge with Altimeter.

The transaction was valued at $6.1b (US$4.5b), making it the largest ever for a Southeast Asian company.

Starting December 2, the group’s common stock is expected to begin trading under the ticker symbol “GRAB.”

“We truly believe this is Southeast Asia’s time to shine, and we hope that our entrance into the global public market will help bring greater attention to the tremendous opportunity here in the region,” said Anthony Tan, Group CEO and Co-founder, Grab. 

Included in the proceeds are a fully committed $5.46b ($4b PIPE), the largest ever raised, as well as around $1b (US$750m) in funds managed by Altimeter Capital Management, LP. Other investors also include accounts managed by BlackRock, Counterpoint Global (Morgan Stanley Investment Management), and T.Rowe Price Associates, Inc., as well as Fidelity International, Fidelity Management and Research LLC, Janus Henderson Investors, Mubadala, Nuveen, Permodalan Nasional Berhad, Temasek and K3 Ventures.

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