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Superapp Grab to Debut on Nasdaq Via SPAC: Nikkei

Shareholders voted at an extraordinary general meeting on Tuesday to list the Singapore unicorn on the Nasdaq in New York on Thursday

Grab is focusing on higher margins and not planning any mass layoffs like some of its peers, a top executive said.
Grab, which operates in 480 cities in eight countries, has more than five million registered drivers and more than two million merchants on its platform. Photo: Reuters.


Singapore tech unicorn Grab will list in the US on Thursday, after the special purpose acquisition company (SPAC) it plans to merge with received shareholder approval for the deal at an extraordinary general meeting on Tuesday.

According to the SPAC, Altimeter Growth, the majority of its shareholders voted in favour of the deal, which will place Grab on the Nasdaq, after there were virtually no redemptions, which came in at a rate of just 0.02%.

Read the full report: Nikkei Asia.




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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.


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