Grab’s Anthony Tan assures that SPAC merger will be completed by year-end

“Grab Holdings Chief Executive Officer Anthony Tan said he’s confident the merger of the ride-hailing and food-delivery giant and a US blank-check company will be completed by year-end, following a delay caused by a review of its financials,” reported Bloomberg.

Details:

• According to Tan, Grab wanted to be proactive and transparent in reporting the financials of special purpose acquisition company (SPAC) Altimeter Growth, hence the delay.
• The regional super app is considering a secondary listing in Singapore as one of its options, but it’s currently focusing on the Nasdaq listing.

Context: 

• Grab recently pushed its merger with Altimeter from the third quarter earlier to the fourth quarter.
• The merger is considered to be one of the largest ever with a SPAC.