Sard Verbinnen & Co. and Blueshirt Group are handling Grab, Singapore-based “superapp,” which is going public via the largest-ever SPAC deal.
Grab is combining with Silicon Valley’s Altimeter Growth Group in a transaction valued at $40B. Its stock will trade on the NASDAQ.
Launched in 2012 as Southeast Asia’s version of Uber, the Grab superapp has access to more than 9M drivers, merchants and agents handling food/package delivery, mobile payments and financial services in more than 425 cities in eight countries.
“It gives us immense pride to represent Southeast Asia in the global public markets,” Grab CEO Anthony Tan said in a statement.
He called the SPAC deal “a milestone to open up access for everyone to benefit from the digital economy.”
Sard Verbinnen & Co. handles US media inquiries about the deal, while Next Fifteen Communications Group’s Blueshirt unit deals with the investment community.