Singapore's Grab Holdings inks $40-billion deal in record SPAC merger

Ride-hailing giant set to trade on Nasdaq

Grab Holdings, Southeast Asia’s most valuable startup, is going public in the US through a merger with blank-check company Altimeter Growth Corp in what is the largest-ever deal of its kind.
 
The Singapore-based startup is set to have a market value of about $39.6 billion after the combination with the special purpose acquisition company of Brad Gerstner’s Altimeter Capital Manage­ment, the firms said on Tuesday.
 
Grab is raising over $4 billion from investors including BlackRock, Fidelity International and T Rowe Price Group as part of the biggest US equity offering by a Southeast Asian company.
 
The deal