Grab Holdings Inc. is in talks to go public through a merger with a special purpose acquisition company (SPAC) controlled by Altimeter Capital Management LP that could value the SoftBank Group Corp.-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.
Altimeters did not immediately respond to a Reuters request for comment, while Grab could not be reached outside regular business hours.
Source: Economic Times