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Ride hailing firm Grab considering US public offering
Southeast Asian ride hailing giant Grab is reportedly mulling a public offering in the US.
Singapore based Grab hopes to raise about $2 billion after merger talks with main rival Go-Jek broke down recently.
Reuters reports that Grab wants to take advantage of the healthy US IPO market.
If it happens, it would be the largest overseas listing for a Southeast Asian company.
It comes as fin-tech division Grab Financial Group raised $300 million in a Series A funding.
"The market is good and the business is doing better. This should work well for public markets," a source told Reuters.
However, no plans have been finalised yet.
The company has a valuation of about $16 billion and saw total group net revenue jump by about 70% year on year in 2020.
Its ride-hailing business is profitable and expects the food delivery business to break even by the end of this year.
Written by Ray Montgomery, Asia Editor
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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