- Briefing Your roundup of Asian tech and startup news that matter
Miguel Cordon · · 1 min readGrab selects banks for US IPO plans, sources say
The Singapore-born company has selected Morgan Stanley and JPMorgan Chase & Co to work on its financial debut, which could happen as soon as the second half of this year, said sources familiar with the development. More banks could be added to the list and further details of the IPO could still change, they added.
Tech in Asia has reached out to Grab for a statement on the matter.
It was reported earlier this month that Grab’s IPO plans came after merger talks with archrival Gojek were dropped. The two super-app hopefuls had been working on a merger deal since the start of 2020.
It was also said that the Indonesian unicorn is in advanced discussions about another merger deal, this time with local ecommerce major Tokopedia.
The US IPO would also come after Grab came out on top from its bout against Covid-19 last year. Company president Ming Maa said in a January 4 newsletter that Grab’s group revenues have returned to over 100% of their pre-Covid levels.
Editing by September Grace Mahino
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
