Grab completes SPAC merger, sees volatile trading debut
Southeast Asia ride-hailing platform turned super app Grab experienced a tumultuous first day of trading on NASDAQ following the completion of its merger with a US-listed special purpose acquisition company (SPAC) at an enterprise valuation of $30.4 billion.
Shareholders in Altimeter Growth Corp, the $450 million SPAC launched last year by Altimeter Capital, approved the merger on November 30. The stock, which surpassed $18 last month in anticipation of the...
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