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Grab Focuses on US IPO

The Singaporean multinational ride-hailing company looks for a listing in the U.S. stock exchange this year. It is said that initial public offering (IPO) might gain $2 billion at a minimum level, potentially the biggest stock offering by a company in the southeast Asia. The plans by IPO, which depend on today’s market conditions, have not been firmed yet. Supported by SoftBank Group Corp and Mitsubishi UFJ Financial Group, the ride-hailing industry has boomed since its establishment in the southeast Asia in 2012, with a value exceeding $16 billion. The firm, with its financial services among others and newly-achieved digital bank authorization, has announced there’s a recovery in revenue group this month. Grab additionally stated the ride-hailing service is recovering in all of its running markets, involving the biggest market in Indonesia. It is also expected that food delivery will recover by the end of 2021. Samira H.
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By Samira Hassanzadeh on October 19, 2021


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