Grab, starting as just an e-hailing service has grown extraordinarily up to recent years. Currently Grab provides a wide range of services including ride-hailing, food delivery and financial services in eight countries across the Southeast Asian region.
In the following, there will be the facts regarding on Grab.
1. What is the valuation of Grab
Grab was entitled with the “unicorn” status, the title is given to a startup that is over $1 billion. But they surpasses that and achieved a valuation of over $10 billion and is currently the first Southeast Asia “decacorn”.
2. Why Grab chose SPAC, but not conventional initial public offering (IPO)
First of all, what is SPAC? SPAC is known as “blank cheque companies” and is a special purpose acquisition company, that has the purpose of taking private companies such as Grab into public without going through the traditional IPO process. Not only that, Grab is able to enter the market as earlier by four months. Following, maintain control over its pricing and terms.
3. Why Grab chose US Listing instead of Singapore Listing
Just like SEA and Razer Inc, that list their shares outside Singapore and not to have a secondary listing on the Singapore Exchange (SGX). As stocks in Singapore have been seen with lower trading volume in comparison with the stock exchange of Hong Kong (SEHK), so listing in overseas stock can be deemed as more pleasing compared to SGX due to them having more liquidity, capital and higher appraisement.
4. Grab’s shares dropped over 20% during its Initial Public Offering
Grab’s operation has contrasting perspectives towards it, the stock surged for 18% at market open on December 2 (2022), before going down for another 33% after. These perspectives mostly contain people that knew Grab’s past earning report was on a downhill ride, and the others thinking that they have the potential due to its global exposure.
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