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Hi readers,
It’s been nothing but Grab news lately. Deservedly so, as many have been waiting for the super app’s IPO for years now. But it was a shaky first trading day for Grab, with its share price falling over 20% to end December 2 at US$8.75 despite a strong opening. Grab’s shares saw a continued slump, ending December 9 at US$8.08.
With the year drawing to a close, all eyes will be on Grab’s earnings results for the fourth quarter – its first as a public company.
According to the analysts we spoke to, a positive showing may send Grab’s share price closer or into two-digit territory. Of course, Covid-19 has been no help, as the pandemic continues to beat down on Grab’s core mobility segment. But as vaccination rates go up and active cases die down, could Grab’s share price rally in 2022?
— Miguel Cordon, journalist at Tech in Asia
Top stories this week
Image credit: Timmy Loen
1. Grab shares may drop further as more stocks flood the market
There are still 2.6 billion shares – worth roughly US$23 billion as of current prices – that will be released to the public by June 2022.
2. Roll-ups square up to VCs in race to land top D2C deals in SEA
For Southeast Asia’s rising consumer brands, aggregators like Hypefast and Una Brands offer an enticing alternative to “slow” and dilutive VC funding.
3. Mental health startups reach tipping point in SEA
Asia’s mental healthcare system is broken, and these startups want to fix it. But instead of targeting consumers, they’re taking it straight to businesses.
4. Examining Grab’s incentive-fueled growth
Incentives for Grab’s deliveries segment saw a significant rise in the third quarter, despite the near stagnant revenue growth in the segment.
5. Behind the crypto project backed by Temasek, JP Morgan, DBS
Helmed by Ovo’s former CEO, Partior has the potential to upend global payment processing by making the process faster, cheaper, and more transparent.
6. Visual: The clunky affair of cross-border payments
The infrastructure for cross-border money transfers is due for a shake-up. Here’s a look at how it works, and why it’s so cumbersome.
7. The leading Asian tech players eyeing an IPO in 2021 and beyond (Updated)
There are over 75 tech startups across the region planning an IPO, and 31 of them could collectively raise over US$21.7 billion.
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