SoftBank-backed Grab in talks to go public in $40 billion SPAC deal: WSJ

FILE PHOTO: A Grab logo is pictured at the Money 20/20 Asia Fintech Trade Show in Singapore March 21, 2019. Picture taken March 21, 2019. REUTERS/Anshuman Daga/File Photo

(Reuters) – Grab Holdings Inc is in talks to go public through a merger with a blank-check firm controlled by Altimeter Capital Management LP that could value the SoftBank-backed ride-hailing company at nearly $40 billion, the Wall Street Journal reported on Thursday.

The Singapore-based company is expected to raise between $3 billion and $4 billion from private investors, the report added.

Reuters first reported on Jan. 18, citing sources, that Grab was exploring a listing in the United States.

Altimeter did not immediately respond to a Reuters request for comment, while Grab could not be reached outside regular business hours.

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