Grab set for US listing through merger with Altimeter SPAC at $35b valuation: Report

Southeast Asia’s Grab is all set for a listing in New York through a merger with special purpose acquisition company (SPAC) backed by Altimeter Capital Management, the Financial Times reported.

The listing, which will be the biggest SPAC merger so far, could see Grab raising about $2.5 billion through a private investment in public equity (PIPE) deal that involves the selling of publicly traded common shares to private investors at a discounted price. About $1.2 billion will be funded by Altimeter.

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