Grab's US$39.6b SPAC deal comes with bells and whistles
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
GRAB is set to go public at a US$39.6 billion valuation via an upcoming merger with Altimeter Growth, a special purpose acquisition company (SPAC). This is set to be the largest-ever SPAC merger.
Grab's deal comes with two atypical features: a three-year lockup period and a backstop. This is notable as SPACs have attracted criticism over the lack of safeguards to ensure long-term sponsor commitment.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
