Grab ponders US IPO to raise at least $2b, Reuters says

by BLOOMBERG

Southeast Asian ride-hailing giant Grab Holdings Inc. is considering listing in the U.S. this year to raise more than $2 billion, Reuters reported, citing people familiar with the matter.

The deal hasn’t been finalized and could change depending on market conditions, Reuters added.

Indonesian rival Gojek is in advanced discussions about merging with local e-commerce pioneer PT Tokopedia, ahead of a planned initial public offering of the combined entity, Bloomberg News has reported. The pair had considered a potential merger since 2018 but discussions accelerated after deal talks between Gojek and Grab reached an impasse, people familiar with the matter have said.

Grab Chief Executive Officer Anthony Tan continues to resist pressure from SoftBank Group Corp.’s Masayoshi Son to give up some control in a combined entity with Gojek, said the people.