Name: Southeast Asia's Grab eyes $40 billion U.S. listing
Uploaded: 2021-03-12T19:35:05.000Z
Duration: 1 min 15 s
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Southeast Asia's biggest ride hailing and food delivery firm GRAB is in talks to go public.

The move would be through a merger with the U.

S Special Purpose acquisition company, or SPAC, people familiar with the matter told Reuters.

A deal would make it the largest ever such transaction, valuing it at nearly $40 billion two sources said on Friday.

That grab was in talks with Silicon Valley based firm Altimeter Capital Management, but had also held discussions with other so called SPAC companies, smacks our exchange listed shell companies that raise money through IPOs and then merged with firms by enticing them with shorter listing timelines.

Singapore based Grab has expanded rapidly from its beginnings as a ride hailing firm in 2000 and 12.

It's currently worth more than $16 billion making its Southeast Asia's most valuable startup.

Backers include Japanese investment giant Softbank.

That grab was thought to be exploring a listing in the U.

The sources say that a traditional listing could still be chosen over a SPAC deal.

 Altimeter did not immediately respond to a Reuters request for comment on Friday. 