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Deepti Sri · · 1 min readReport: Grab eyes secondary listing in Singapore after US debut
“Grab, Southeast Asia’s ride-hailing to delivery giant, is considering a secondary listing in its home market of Singapore after completing a Nasdaq listing via a US$40 billion SPAC merger,” Reuters reported, citing three people familiar with the matter.
Details:
- The move would allow Grab to have an investor base in its home market as well as give its customers and partners an easier way to trade its shares.
- The company has enough cash reserves, so it may target only a small amount on the Singapore Exchange (SGX). But a listing will still be a major win for the bourse, one of the sources added.
Context:
- SGX has largely only seen big-ticket listings from real estate investment trusts, according to the report. Regional companies have also delisted from the exchange, as it only has a small base of retail investors.
- Grab recently announced its plans to go public in the US through a deal with special purpose acquisition company (SPAC) Altimeter Growth.
Editing by Miguel Cordon and Eileen C. Ang
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