DoorDash's stellar IPO could boost Asia valuations
Benchmark set by NY listing may also spur more investments in South-east Asia food delivery peers
Add BT as a preferred source
Claudia Chong
Singapore
DOORDASH'S stellar public market debut could bump up valuations for its peers in South-east Asia's food delivery sector and spur more investments in these fast-growing startups, market watchers told The Business Times.
The food delivery company hit a market value of US$60.1 billion on the first day of trading on the New York Stock Exchange, after its shares soared 85.8 per cent from its initial public offering (IPO) price to close at US$189.51 on Wednesday evening in the US.
TRENDING NOW
‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse
In a world of long-drawn crises, ‘wait and see’ may be a decreasingly tenable stance
SpaceX’s US$1.75 trillion IPO: How retail investors, including those in Singapore, can buy shares
The returnees: Inside China’s AI talent reversal
