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Grab has completed its business combination with Altimeter Growth Corp., raising
Altimeter Growth Corp. (AGC) announced that its shareholders have approved the business combination with Grab, Southeast Asia's leading superapp. The approval was confirmed during an extraordinary meeting, with shareholder redemptions reported at a marginal 0.02%. The transaction is expected to finalize on December 1, 2021, pending customary closing conditions, and Grab's Class A common stock will begin trading on Nasdaq under the ticker symbol 'GRAB' on December 2, 2021.
Altimeter Growth Corp. (AGC) announced that the SEC has declared effective its registration statement for the proposed business combination with Grab Holdings Limited (GHL), Southeast Asia's leading superapp. Shareholders are urged to vote in favor of the merger at AGC's Extraordinary General Meeting on November 30, 2021, at 12:00 p.m. ET. Shareholders as of November 5, 2021, can participate in-person or virtually through a webcast. Grab operates in food deliveries, mobility, and financial services across Southeast Asia, with a mission to promote economic empowerment.
Grab Holdings Inc. reported a record Gross Merchandise Value (GMV) of $4.0 billion for Q3 2021, marking a 32% YoY increase, despite challenges from lockdowns in Vietnam. Deliveries GMV surged 63% YoY, while average spend per user rose 43% YoY. Revenue, however, fell 9% YoY to $157 million due to mobility declines from COVID-19 restrictions. Adjusted EBITDA was $(212) million, with losses increasing to $(988) million. Cash liquidity stood at $5.2 billion. Grab's planned combination with Altimeter Growth Corp. (AGC) remains on track for Q4 2021.
Grab Holdings Inc. reported impressive Q2 2021 results, achieving a record Gross Merchandise Value (GMV) of $3.9 billion, a 62% increase year-over-year. Adjusted Net Sales reached $550 million, up 92% YoY, and revenue grew to $180 million, marking a 132% rise. Despite a net loss of $(815) million and adjusted EBITDA of $(214) million, the company is seeing substantial user growth and high cash liquidity of $5.3 billion. Grab's business combination with Altimeter Growth Corp. (Nasdaq: AGC) is expected to close in Q4 2021.
Grab Holdings, Southeast Asia's top superapp, will present at multiple virtual investor conferences. Key events include presentations by CFO Peter Oey at Cowen and Tellimer forums, and a group presentation led by Ken Lek at the Macquarie ASEAN Conference. Other engagements include Oey's participation at the JP Morgan Forum, Morgan Stanley Conference, and Credit Suisse Technology Conference. Grab aims to enhance investor relations ahead of its anticipated merger with Altimeter Growth Corp. (AGC), expected to trade under 'GRAB' on NASDAQ post-merger.
Grab Holdings announced its financial results for Q1 2021, reporting a 5% year-on-year growth in Gross Merchandise Value (GMV) to $3.6 billion. Adjusted Net Sales reached a record $507 million, up 39%. Deliveries GMV surged 49% year-on-year, while mobility faced challenges due to COVID-19 lockdowns. Grab's cash reserves increased to $4.9 billion. The company anticipates its public listing in Q4 2021 following a proposed merger with Altimeter Growth Corp. (AGC). With category leadership, Grab is well-positioned for continued growth in Southeast Asia.
Grab Holdings, Southeast Asia's leading superapp, reported its financial results for Q1 2021, achieving adjusted net sales of $507 million, a 39% year-on-year increase. Gross Merchandise Value (GMV) rose 5% to $3.6 billion. Deliveries GMV surged 49% to $1.7 billion, while mobility showed weakness due to pandemic-related restrictions, with adjusted net sales declining 14%. The company also announced its proposed merger with Altimeter Growth Corp. (AGC), expected to finalize in Q4 2021. Grab's cash reserves grew to $4.9 billion, marking a significant increase from the previous quarter.
Grab Holdings, Southeast Asia’s superapp leader, announced participation in several virtual investor conferences. Key presentations include a fireside chat with President Ming Maa and CFO Peter Oey on May 24 at the J.P. Morgan conference, and a keynote by CEO Anthony Tan on May 25 at Goldman Sachs TechNet. Additional events include one-on-one meetings at various conferences through June. Grab also plans to go public in the U.S. through a merger with Altimeter Growth Corp (AGC), aiming for Nasdaq listing under the symbol ‘GRAB’.
Grab Holdings Inc. plans to go public in the U.S. through a merger with Altimeter Growth Corp. (AGC), valuing Grab at approximately US$39.6 billion. The transaction includes a PIPE size of over US$4.0 billion and aims to provide US$4.5 billion in cash proceeds. Grab, a leading superapp in Southeast Asia, reported a GMV of about US$12.5 billion in 2020, achieving significant growth despite COVID-19. With its platform, Grab anticipates its total addressable market will grow from US$52 billion in 2020 to over US$180 billion by 2025.
