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Grab to go public in a SPAC merger valuing company at nearly $40 billion

Dow Jones2021-04-13

MW Grab to go public in a SPAC merger valuing company at nearly $40 billion

Singapore-based Grab Holdings Inc. announced Tuesday a deal to go public through a merger with special purpose acquisition company Altimeter Growth Corp. $(AGC.AU)$ in a deal that values Grab at $39.6 billion. Shares of Altimeter Growth surged 7.2% in premarket trading. The deal will provide Grab, the ride-hailing, delivery and financial services company, with proceeds of $4.5 billion in cash, and is expected to be the largest-ever U.S. equity offering by a company in Southeast Asia. After the deal closes, which is expected to occur in the coming months, the combined company is expected to list on the Nasdaq under the ticker symbol "GRAB." In 2020, Grab recorded gross merchandise value of $12.5 billion to surpass pre-pandemic levels. "Our diversified superapp strategy helped our driver-partners pivot to deliveries, and enabled us to deliver growth while improving profitability," said Grab co-Founder Anthony Tan. Altimeter's stock, which went public on Dec. 1, 2020, has rallied 8.5% year to date, while the S&P 500 has gained 9.9%.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

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April 13, 2021 06:19 ET (10:19 GMT)

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Reggie1611
·2021-04-13
It’s a buy
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Shares of <a href=\"https://laohu8.com/S/AGCUU\">Altimeter Growth</a> surged 7.2% in premarket trading. The deal will provide Grab, the ride-hailing, delivery and financial services company, with proceeds of $4.5 billion in cash, and is expected to be the largest-ever U.S. equity offering by a company in Southeast Asia. After the deal closes, which is expected to occur in the coming months, the combined company is expected to list on the Nasdaq under the ticker symbol \"GRAB.\" In 2020, Grab recorded gross merchandise value of $12.5 billion to surpass pre-pandemic levels. \"Our diversified superapp strategy helped our driver-partners pivot to deliveries, and enabled us to deliver growth while improving profitability,\" said Grab co-Founder Anthony Tan. Altimeter's stock, which went public on Dec. 1, 2020, has rallied 8.5% year to date, while the S&amp;P 500  has gained 9.9%. \n</p>\n<p>\n  -Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com \n</p>\n<pre>\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/END\">$(END)$</a> Dow Jones Newswires\n</p>\n<p>\n  April 13, 2021 06:19 ET (10:19 GMT)\n</p>\n<p>\n  Copyright (c) 2021 Dow Jones &amp; Company, Inc.\n</p>\n</font></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Grab to go public in a SPAC merger valuing company at nearly $40 billion</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGrab to go public in a SPAC merger valuing company at nearly $40 billion\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-04-13 18:19</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><font class=\"NormalMinus1\" face=\"Arial\">\n<p>\nMW Grab to go public in a SPAC merger valuing company at nearly $40 billion\n</p>\n<p>\n  Singapore-based Grab Holdings Inc. announced Tuesday a deal to go public through a merger with special purpose acquisition company <a href=\"https://laohu8.com/S/AGC\">Altimeter Growth Corp.</a> <a href=\"https://laohu8.com/S/AGC.AU\">$(AGC.AU)$</a> in a deal that values Grab at $39.6 billion. Shares of <a href=\"https://laohu8.com/S/AGCUU\">Altimeter Growth</a> surged 7.2% in premarket trading. The deal will provide Grab, the ride-hailing, delivery and financial services company, with proceeds of $4.5 billion in cash, and is expected to be the largest-ever U.S. equity offering by a company in Southeast Asia. After the deal closes, which is expected to occur in the coming months, the combined company is expected to list on the Nasdaq under the ticker symbol \"GRAB.\" In 2020, Grab recorded gross merchandise value of $12.5 billion to surpass pre-pandemic levels. \"Our diversified superapp strategy helped our driver-partners pivot to deliveries, and enabled us to deliver growth while improving profitability,\" said Grab co-Founder Anthony Tan. Altimeter's stock, which went public on Dec. 1, 2020, has rallied 8.5% year to date, while the S&amp;P 500  has gained 9.9%. \n</p>\n<p>\n  -Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com \n</p>\n<pre>\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/END\">$(END)$</a> Dow Jones Newswires\n</p>\n<p>\n  April 13, 2021 06:19 ET (10:19 GMT)\n</p>\n<p>\n  Copyright (c) 2021 Dow Jones &amp; Company, Inc.\n</p>\n</font></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"http://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2127015085","content_text":"MW Grab to go public in a SPAC merger valuing company at nearly $40 billion\n\n\n  Singapore-based Grab Holdings Inc. announced Tuesday a deal to go public through a merger with special purpose acquisition company Altimeter Growth Corp. $(AGC.AU)$ in a deal that values Grab at $39.6 billion. Shares of Altimeter Growth surged 7.2% in premarket trading. The deal will provide Grab, the ride-hailing, delivery and financial services company, with proceeds of $4.5 billion in cash, and is expected to be the largest-ever U.S. equity offering by a company in Southeast Asia. After the deal closes, which is expected to occur in the coming months, the combined company is expected to list on the Nasdaq under the ticker symbol \"GRAB.\" In 2020, Grab recorded gross merchandise value of $12.5 billion to surpass pre-pandemic levels. \"Our diversified superapp strategy helped our driver-partners pivot to deliveries, and enabled us to deliver growth while improving profitability,\" said Grab co-Founder Anthony Tan. Altimeter's stock, which went public on Dec. 1, 2020, has rallied 8.5% year to date, while the S&P 500  has gained 9.9%. \n\n\n  -Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com \n\n\n \n\n\n$(END)$ Dow Jones Newswires\n\n\n  April 13, 2021 06:19 ET (10:19 GMT)\n\n\n  Copyright (c) 2021 Dow Jones & Company, Inc.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":2,"commentSize":1,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}