Altimeter Growth shares jump premarket on FT report it'll merge with Singapore's Grab

Dow Jones2021-04-07

MW Altimeter Growth shares jump premarket on FT report it'll merge with Singapore's Grab

Shares in Altimeter Growth 1 $(AGC)$, a special purpose acquisition company operated by Altimeter Capital, rose 19% in premarket trade after the Financial Times said it's in talks to merge with Singapore food delivery and payment service Grab. Grab will raise $2.5 billion in total financing, with nearly $1.2 billion coming from Altimeter in the deal that will give Grab a valuation near $35 billion, the report said. The figures could still change depending on talks with investors, the report added.

-Steve Goldstein; 415-439-6400; AskNewswires@dowjones.com

 

$(END)$ Dow Jones Newswires

April 07, 2021 05:53 ET (09:53 GMT)

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Comments

  • OutofCBD
    2021-04-07
    OutofCBD
    Didn’t expect that the Grab follow through to merge with SPAC. $Altimeter Growth Corp.(AGC)$always got a boost from this.This will be an interesting story to unfold because beside SEA region, our US counterpart retailers might not know much about Grab. In Indonesia, one of the largest consumer market of SEA region are actually primarily dominant by GoJek instead. I am unsure it this and likely not take a risk first. 
  • TLC88
    2021-04-07
    TLC88
    Yes, all in
  • Kah
    2021-04-07
    Kah
    Good news [财迷] 
  • Jwl
    2021-04-07
    Jwl
    Please like ! 
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