News: SoftBank-backed Grab in talks to go public in $40 billion SPAC deal: WSJ.
(Reuters) – Grab Holdings Inc is in talks to go public through a merger with a blank check firm controlled by Altimeter Capital Management LP that could value the SoftBank-backed hail-fighting firm at nearly $ 40 billion, reported the Wall Street Journal Thursday.
The Singapore-based company is expected to raise between $ 3 billion and $ 4 billion from private investors, the report added. bit.ly/3rD4XR6
Reuters first reported January 18, citing sources, that Grab was reviewing a listing in the United States.
Altimeter did not immediately respond to a Reuters request for comment while Grab was unavailable outside of regular business hours.
Reporting by Sohini Podder in Bengaluru; Adaptation of Shinjini Ganguli
Original Source © Reuters