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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
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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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