Grab’s Nasdaq debut blazes trail for regional peers
Room for growth seen for Southeast Asia’s internet economy
A woman uses her phone near a sign for the online ride-hailing service Grab at the Manggarai train station in Jakarta in 2017. (Reuters photo)
SINGAPORE: Grab, Southeast Asia’s biggest ride-hailing and delivery firm, makes its market debut on Thursday after a record $40-billion merger with a special purpose acquisition company (SPAC), in a listing that will set the tone for other regional offerings.
The backdoor listing on Nasdaq marks the high point for the nine-year-old Singapore company that began as a ride-hailing app and now operates across 465 cities in eight countries, offering food deliveries, payments, insurance and investment…
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