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.
GoTo plans a local IPO in 2022 after completing an expected $2 billion private fundraising, sources have told Reuters. A U.S. listing will follow the Jakarta offering.
CEO Tan, 39, expanded Grab into a regional operation with a range of services, after launching it as a taxi app in Malaysia in 2012. It later moved its headquarters to Singapore. He will end up with 60.4% voting rights along with Grab's co-founder, and president Ming Maa, but control only 3.3% stake with them.
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